Ethereum price prediction: Bullish momentum builds above $3,870 as inflows rise
Ethereum is consolidating near $3,877 on July 28 as short-term momentum softens following a steady uptrend within a rising price channel. The pullback comes after ETH rejected near $3,940 and has since eased back toward the $3,870 zone, just above the 20 EMA.
Highlights
- Ethereum is holding near $3,877 after rejecting at $3,940 and testing the 20 EMA
- Spot inflows surged to $149.04M, the highest in months, signaling renewed demand
- Key support levels remain between $3,770 and $3,800, with $3,940 still capping upside
Despite the minor correction, the broader bullish structure remains intact, supported by renewed demand signals, including a notable surge in spot inflows. On the technical front, Ethereum continues to respect the boundaries of a rising channel visible on the 1-hour chart. The lower and midline regions of the structure are acting as interim support, with the 50 EMA at $3,821 and 100 EMA at $3,772 offering additional cushioning beneath price.
ETH price dynamics (Source: TradingView)
As long as ETH holds above the $3,770–$3,800 range, the potential for a rebound toward $3,940 and beyond remains viable. Should the correction deepen, the 200 EMA near $3,685 is expected to act as a stronger demand zone. So far, the price has shown resilience after repeated intraday dips, which suggests that buyers remain active within the current range. Breakouts above $3,940 would likely confirm a continuation toward $4,050–$4,100.
Spot inflows offer bullish reinforcement
A key development reinforcing ETH’s underlying strength is the marked increase in spot inflows. On July 28, Ethereum registered a net inflow of $149.04 million, the highest in recent months. This reversal from a long phase of net outflows reflects rising institutional or whale participation, signaling either accumulation or reduced selling pressure.
These inflow dynamics offer support to price structure even as short-term momentum indicators begin to cool. While RSI has moderated, and volume has normalized, the consistency of inflows suggests ongoing dip-buying behavior.
In earlier analysis, we highlighted ETH’s steady compression within a defined channel and noted that key EMA supports around $3,770–$3,800 would be pivotal for bulls. The current setup continues to mirror that thesis, with spot activity now offering additional confirmation.
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