Ethereum price holds $1,900 as Fed uncertainty persists
Ethereum is holding key support amid ETF outflows and uncertain signals from the Federal Reserve. The price reaction at $1,850 will determine its short-term direction.
The July Federal Reserve meeting formally left monetary policy unchanged, with the interest rate remaining at 3.50–3.75%. The macroeconomic section of the statement was almost identical to the June version, no new projections were published, and Kevin Warsh provided no clear signal regarding the next decision.
The market interpreted the Fed chair’s remarks in different ways. His tone was initially viewed as relatively dovish. However, investors are concerned that the Fed’s current caution could keep inflation elevated and require tighter policy later.
Institutional flows also failed to support Ethereum. On 29 July, US spot ETH ETFs recorded net outflows of approximately $18.6 million.

Consolidation continues between $1,850 and $1,950
Ethereum continues to trade near $1,900. As noted earlier, while the price remains below resistance at $1,950, the risk of a deeper correction towards the 50-day SMA near $1,760 remains elevated.The key support level for today is $1,850. Holding this level would allow ETH to continue consolidating within the $1,850–1,950 range and preserve the possibility of another recovery attempt.
A decisive break below $1,850 on elevated trading volume would confirm the bearish scenario and open the way towards $1,800, followed by the 50-day SMA near $1,760. To invalidate this scenario, buyers must establish a sustained move above $1,950.
Ethereum enters a potentially late stage of the bear cycle
The previous three major crypto bear cycles lasted 410, 363 and 376 days, averaging 383 days. If the current market cycle is measured from the high reached on 6 October 2025, the market is entering its 297th day of decline.Historical data cannot identify the exact date of a market bottom. However, it suggests that the cryptocurrency market may be gradually approaching a later stage of the bear cycle, increasing the probability of a more active accumulation phase over the coming months.