Go long on ETHUSD with $2,070 target as holders build positions

As of July 23, 2026, ETHUSD has settled near the top of its rising range, having broken through the previous day's local high of $1,956.24. Although today's candle is painted red, its small body suggests a mere technical breather following the recent surge, rather than a change of heart among bulls. Supporting this view is the moderate trading volume, which shows no signs of panic selling.

Turning to the moving averages, they are singing a bullish tune. On July 21, the EMA20 ($1,840.70) and EMA50 ($1,831.70) crossed from bottom to top, thus delivering a golden crossover. Both lines are now sloping upward, carving out a solid support zone between $1,831 and $1,841. Meanwhile, the EMA100 ($1,935.71) is hovering just above the current price, acting as a ceiling that bulls will need to crack.

Now, let's talk about volatility. As measured by the Average True Range, it tells an interesting story. Following a sharp spike on July 14–15—fueled by a powerful impulse breakout and the subsequent shakeout—the ATR has been steadily falling. Now sitting near local lows of around 71, this decline suggests a maturing trend without wild emotional swings. On the one hand, this is good news for stability, but on the other, it means that explosive upside may be limited in the short term.

On the fundamental front, the stars are aligning for Ethereum. The staking exit queue has cleared for the first time in what feels like ages, while roughly 2.48 million ETH are now in line for entry—representing a waiting period of around 43 days. Unsurprisingly, this is a clear vote of confidence from long-term holders. Meanwhile, spot ETH exchange-traded funds (ETFs) are on a hot streak, logging their fifth consecutive session of net inflows. The so-called "whales" continue to quietly accumulate the crypto at every opportunity.

For those looking to take a position, pay attention to the trading plan down below:

Buy the ETHUSD pair on a pullback to the $1,900–$1,905 range. Place Take profit at $2,070. Set Stop loss at $1,850.

This forecast holds true from July 23 till July 30, 2026.