Ethereum Surges 52% In July—But Is The Rally Over Now?

Ethereum (CRYPTO: ETH) has surged over 52% in the past month, but some analysts expect a short-term correction before the next leg up.

Trader Notes: Crypto trader Posty notes that Ethereum's 1-hour trendline remains intact, though a brief dip below $3,500 wouldn't be surprising before price resumes higher.

If a deeper breakdown occurs, he points to $3,000 as the critical support level.

Ash Crypto highlights Ethereum's renewed alignment with M2 money supply after a long divergence last year.

As institutional demand rises and ETH's supply continues tightening, Ash says Ethereum now presents a prime macro opportunity, potentially targeting $10,000 this cycle.

CryptoWolf outlined two likely ETH trajectories: a conservative target above $8,000 and a bullish target of $13,000+.

In both scenarios, he expects a 20–25% pullback after ETH hits new all-time highs, marking the final shakeout before a Q4 rally takes off.

Statistics: According to SoSoValue, U.S. Ethereum ETFs reported a daily net inflow of $231.2 million on July 24, with cumulative net inflows now at $8.88 billion and total ETH ETF assets hitting $20.7 billion.

While Ethereum ETFs showed strong buying, Bitcoin ETFs experienced net outflows, reflecting short-term market divergence.

Eric Balchunas of Bloomberg notes BlackRock's iShares ETH ETF crossed $10 billion AUM in just one year, becoming the third fastest ETF ever to hit that milestone, behind only two BTC ETFs.

It took just 10 days to grow from $5 billion to $10 billion.

IntoTheBlock data shows Ethereum large transaction volume and daily active addresses grew 5.1% and 3.5% respectively in a single day.

Community News: Bitmine Immersion Technologies announced ETH holdings exceeding $2 billion, only 16 days after completing a $250M private raise. The firm stated ambitions to acquire and stake 5% of the entire ETH supply — signaling long-term conviction in Ethereum's value proposition.

Read Next: 

• Trader Who Called Bitcoin, Ethereum, Solana Bottom In April Now Warns Local Top Likely In August

Image: Shutterstock