Ethereum price prediction: Bullish breakout holds above $3,850 as netflows turn positive
Ethereum is holding above $3,850 on July 31 after successfully breaking out of a multi-week descending channel. The asset’s technical structure has turned bullish, marked by a decisive move beyond the channel’s upper boundary and a sequence of higher lows on the 1-hour chart.
Highlights
- Ethereum price trades near $3,858 after breaking out from a falling channel structure
- Smart Money Concepts and rising spot inflows support short-term bullish continuation
- EMA cluster near $3,821 offers critical support as ETH eyes $3,920–$3,960 supply zone
The breakout has coincided with Ethereum reclaiming the 20/50/100/200 EMA cluster, tightly aligned between $3,808 and $3,821 which is now forming a critical short-term support base. Smart Money Concepts (SMC) show a clear CHoCH (Change of Character) after ETH rebounded from the $3,742 demand zone.
ETH price dynamics (Source: TradingView)
Institutional-style accumulation is evident from multiple retests of mid-channel resistances and equal high zones. With price now hovering above the previous liquidity pool, traders are watching for a continuation toward $3,920 to $3,960, an area marked as a weak high supply region.
Positive netfows signal renewed accumulation interest in ETH
On-chain data adds further validation to the bullish outlook. According to July 31 inflow/outflow readings at 05:30, Ethereum recorded a net inflow of $33 million as the price reached $3,865.09. This positive spot netflow breaks from the recent pattern of outflows during previous rallies and may indicate growing institutional interest or whale reaccumulation. Historically, positive netflows during consolidation often precede renewed uptrends.
If ETH maintains momentum above the EMA cluster and surpasses $3,865, the path toward the next resistance near $3,960 remains open. A failed retest or rejection from this region, however, could bring the asset back toward the $3,742 demand block, where buyers have previously stepped in.
In earlier coverage, we identified $3,742 as a critical demand zone for Ethereum, with confluence from Smart Money Concepts and liquidity sweep patterns. The latest price action confirms this zone as a key pivot, and a hold above $3,821 is now essential for continuation into higher resistance bands.
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