Ethereum Price Stalls Below $1840 as Resistance Holds Firm
- Ethereum Price remains below the key $1,840 resistance level.
- Robinhood Chain revenue reignited debate over Ethereum’s fee model.
- ETF outflows and macro events continue shaping short-term ETH sentiment.
Ethereum Price remains capped below the crucial $1,840 resistance level after another failed breakout attempt. Market sentiment weakened as spot Ethereum ETF outflows resumed and fresh debate emerged over Ethereum’s revenue model. Despite these headwinds, technical indicators suggest the Ethereum Price still retains constructive momentum if buyers can reclaim the key resistance area.
Ethereum Price Faces Resistance as Revenue Debate Grows
The Ethereum Price has tested the $1,840-$1,850 region several times without securing a decisive breakout. Analyst Daan Crypto Trades identified $1,735 as the primary support level that bulls must defend to preserve the current short-term trend.
Meanwhile, ARK Invest analyst Lorenzo Valente questioned Ethereum’s value capture after Robinhood Chain reportedly generated $816,000 in revenue since launching on July 1. According to his analysis, Ethereum received only $1,538, while Arbitrum collected a larger share. Valente argued that Ethereum’s revenue model may require changes to improve long-term value capture.
Ethereum Price Watches ETF Flows and Technical Levels
The Ethereum Price continues to trade inside a critical technical range. The MACD remains positive, while the Relative Strength Index stands near 55, indicating buying momentum has not fully faded.
A confirmed close above $1,840 could complete a double-bottom pattern and potentially target $2,244, representing roughly 22% upside. However, another rejection may push the Ethereum Price toward the $1,725-$1,735 support zone.
Investor sentiment also softened after spot Ethereum ETF products recorded $15 million in net outflows following several days of positive inflows. Rising oil prices, geopolitical tensions surrounding the Strait of Hormuz, and upcoming U.S. inflation data remain additional macro factors that could influence the Ethereum Price in the near term.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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