Ethereum (ETH) is showing signs of a short-term technical correction, even as corporate and institutional accumulation reaches historic levels. As of Tuesday, July 15, Ethereum is trading around $2,940, down 1.6% in the past 24 hours, slipping below the key $3,000 resistance level after briefly surpassing it last week. This decline is sparking concern among traders, especially as momentum indicators begin to cool off.
Despite the price dip, the broader picture for Ethereum remains bullish. Over $1.6 billion in ETH has been purchased by corporate treasuries in the last month alone, and institutional inflows into Ethereum-based funds are nearing all-time highs. However, technical charts suggest Ethereum could be entering a brief consolidation or correction phase before any further upside.
Corporate Ethereum Accumulation Hits Historic Levels
One of the most notable developments supporting Ethereum’s long-term outlook is the surge in corporate treasury accumulation. According to recent data, over 545,000 ETH—valued at more than $1.6 billion—has been acquired by major firms in the past 30 days.
Among the top corporate holders is SharpLink, a gaming company founded by Ethereum co-founder Joseph Lubin. The company now holds over 255,000 ETH, making it the largest known Ethereum treasury. In just one day—Monday, July 14—SharpLink purchased 24,371 ETH worth approximately $73.2 million, following earlier buys of 10,000 ETH and 16,370 ETH within the same week.
Joining the trend is BitMine Immersion Technologies, led by Fundstrat’s Tom Lee. The firm currently holds 163,142 ETH, worth nearly $480 million. Lee drew parallels between Ethereum’s growing treasury support and the Bitcoin strategy famously pursued by Michael Saylor’s MicroStrategy. According to Lee, Ethereum treasury adoption could unlock major Wall Street interest, especially if corporate holdings reach 5% of ETH’s total supply.
Institutional Inflows Mark Fourth-Highest Weekly Record
Corporate buying isn’t the only bullish signal. Ethereum-based investment funds have now recorded 12 consecutive weeks of net inflows, according to a report from CoinShares. Inflows reached nearly $990 million in the past week alone, ranking as the fourth-largest weekly total on record.
Year-to-date, Ethereum-focused funds have attracted almost $4 billion, with nearly 30% of that total flowing in during the last two weeks. Ethereum now makes up a growing share of digital asset fund allocations—19.5% of total AUM in Ether-focused products compared to 9.8% for Bitcoin funds.
This disparity in institutional attention reflects Ethereum’s increasing use in decentralized finance, staking, and enterprise applications. It also reinforces the idea that long-term accumulation continues, even during periods of short-term price corrections.
Technical Indicators Suggest Pullback Is Underway
Despite strong fundamentals, Ethereum’s technical setup points toward a possible short-term retracement. On the hourly chart, ETH recently broke below a bullish trendline near the $2,980 level, signaling a weakening of upward momentum.
Key technical indicators paint a cautious picture:
-
MACD: Entering bearish territory, showing signs of declining momentum
-
RSI: Below 50, indicating reduced buying strength
-
Support Level: $2,900 remains the key level to hold
-
Resistance Level: $3,000 is the nearest hurdle, followed by $3,040 and $3,080
The price has also dropped below the 50% Fibonacci retracement level, calculated from the $2,905 low to the recent $3,081 high. This typically suggests profit-taking activity and signals the beginning of a technical correction.
Ethereum Price Prediction: What Comes Next?
Ethereum is at a critical technical juncture. If bulls can defend the $2,900 support, ETH may stage a rebound toward $3,000, and potentially retest $3,080, the previous weekly high. A breakout above this level could open the path to $3,200–$3,220 in the coming sessions.
However, a breakdown below $2,900 could signal deeper correction territory. In that case, the next major support levels lie at $2,800, followed by $2,720 and possibly $2,650 if selling pressure increases.
Traders should watch closely for price action around the $2,900–$3,000 range, as it will likely determine Ethereum’s short-term direction. Continued accumulation by institutions and corporations may provide a floor, but if macro sentiment sours or Bitcoin pulls back further, ETH could be dragged lower.
Conclusion: Technical Correction Amid Strong Fundamentals
Ethereum is experiencing a technical correction, but long-term fundamentals remain intact. With over $1.6 billion in recent corporate treasury purchases and institutional inflows hitting record levels, demand for ETH remains robust. Still, traders should be aware of near-term risks, especially with key support levels now being tested.
If Ethereum can consolidate and regain momentum, this dip may be seen as a healthy reset in a broader bullish cycle. But if technical support fails, a deeper retracement could follow before the next leg higher.
Post Views: 3