Ethereum closed at approximately $1,764 on July 5, posting a modest gain over the past 24 hours and recovering more than 11% over the past seven days. However, ETH remains within a trading range between $1,700 and $1,800, with short-term price movement still constrained by dense liquidation zones and insufficient trading volume.
Back-and-forth between $1,700 and $1,800
The market is currently focused on two key liquidity zones: one above $1,800 to $1,830, and another just below $1,700. Significant leveraged positions at both ends cause ETH to oscillate within the range, with rapid rallies or pullbacks often quickly reversed.
Previously, on-chain liquidation heatmaps also showed that the areas around $1,700 to $1,760 and $1,800 are regions of concentrated leverage. This suggests that ETH may continue to trade range-bound until positions in either direction are significantly liquidated.
Momentum is recovering, but trading volume remains weak.
Looking at the price movement, buying pressure previously provided support around the $1,500 level, pushing ETH back above $1,700. Short-term momentum has improved, but the market has not yet formed a clearer upward confirmation.
The MACD indicator continues to improve, with the histogram turning positive and the MACD line above the signal line, indicating a resurgence of short-term buying pressure. However, since the MACD line remains below the zero line, the market is still closer to a recovery phase rather than a confirmed trend reversal.
Trading volume also limits price momentum. The report notes that current trading activity remains moderate, and buyers will need stronger capital inflow to push ETH higher.
- Around $1,700 is considered a short-term support level.
- If this level is breached, the market may refocus on $1,600 and $1,550.
- If a valid breakout above $1,800 occurs, the next target may be $1,830 to $1,850.
Lean Ethereum attracts long-term interest
In addition to short-term price movements, the market is also paying attention to Vitalik Buterin’s Lean Ethereum roadmap, which highlights native recursive STARKs, post-quantum cryptography, a new virtual machine design, and a larger state architecture—all centered on privacy, scalability, and long-term security.
Related reports also mention that the upcoming Glasterdam upgrade may increase Ethereum's gas limit. Although these technical plans do not directly correspond to short-term price performance, they have shifted some discussions from intraday fluctuations to Ethereum’s future technological evolution.
Overall, ETH is still within a recovery range. Key points for the market to watch in the coming period include whether $1,700 can be held, whether $1,800 can be effectively broken through, and whether trading volume will increase in tandem.