Buy ETHUSD with $2,050 in sight amid steady demand

Ethereum has been on a wild ride lately. After surging 25%–30% from its late June low of $1,512 to a local peak of $1,980.40, it pulled back to the $1,911–$1,915 range. What triggered the retreat? A sharp risk-off wave across crypto markets—nearly $10.15 billion in ETH long positions were liquidated in just 24 hours, taking the heat out of a rally that had been running hot for weeks. But here's the thing: following a 25%–30% run, this correction looks less like a trend reversal and more like a healthy shakeout. 

What about the Federal Reserve? Here's the takeaway. The Fed's role is a complicating factor, not a game-changer. The regulator's July meeting introduced an additional layer of uncertainty. As expected, the central bank held interest rates steady at 3.50%–3.75%. However, the devil was in the details: three committee members voted for a hike, thus signaling internal divisions. The accompanying statement emphasized that the economy continues to grow robustly, though inflation is still stubbornly above the 2% target. Both issues lean hawkish. This is hardly a bullish cocktail for risky assets.

Yet, despite a perfect storm of negatives, ETHUSD has refused to break below the $1,880–$1,900 support zone. This is quite telling. When bad news can't push an asset lower, it often means that sellers are exhausted and buyers are quietly stepping in. What's more, a steady inflow into ETH spot exchange-traded funds (ETFs) suggests demand remains intact. So, bulls aren't throwing in the towel just yet. 

On the technical front, the pair is taking a breather near $1,900 after failing to crack $2,000. The Relative Strength Index (RSI) has slipped below the 50 mark, shedding overbought conditions. The Chaikin Oscillator has turned negative since early July, though its decline is slowing—a classic sign of fading momentum and a market entering a consolidation phase.

For those looking to act, pay attention to the trading plan down below:

Buy ETHUSD from $1,900–$1,915. Place Take profit at $2,050. Set Stop loss at $1,800.

This forecast holds true from July 30 till August 6, 2026.