Ethereum (ETHUSDT) showcased a dramatic recovery on July 31, 2025, bouncing from a 24-hour low of $3,677.65 to close at $3,874.96. This bullish reversal has traders buzzing—could this signal the start of a new uptrend? Let’s dive into the key metrics and trading insights.
Ethereum Price Action: A Rollercoaster Day
The ETHUSDT pair opened at $3,792.64 but quickly faced selling pressure, dropping to $3,677.65 before staging a strong rebound. Key takeaways:
- 24-hour high: $3,878.67
- 24-hour low: $3,677.65
- Total volume: 248,465.01 ETH
- Notional turnover: $914,789,398.26
The rebound was backed by surging volume, confirming bullish momentum.
Trading Strategies: Key Levels to Watch
Technical indicators painted a compelling picture:
- Fibonacci retracement: The 61.8% level ($3,738.38) held as strong support.
- RSI: Approached overbought territory (68), suggesting short-term strength.
- Bollinger Bands: Widened volatility signaled potential continuation.
Traders should monitor $3,880 as the next resistance.
Market Sentiment: Is Ethereum Gearing Up for a Breakout?
The bullish engulfing pattern and MACD crossover hint at further upside. However, caution is advised—overbought RSI could lead to a pullback.
Conclusion: What’s Next for Ethereum?
Ethereum’s rebound was backed by strong volume and technical confirmations. While short-term overbought conditions may cause hesitation, the bullish structure suggests higher targets if $3,880 breaks.
FAQs
1. What caused Ethereum’s price drop on July 31, 2025?
Profit-taking and a temporary loss of the $3,800 support level triggered the sell-off.
2. Why did Ethereum rebound so strongly?
Buyers stepped in at the 61.8% Fibonacci level ($3,738.38), and volume confirmed the reversal.
3. Is Ethereum in a bullish trend now?
The daily chart remains above key moving averages, but traders should watch for a confirmed breakout above $3,880.
4. What’s the best trading strategy for ETHUSDT now?
Consider buying dips near $3,750 with a stop-loss below $3,650, targeting $3,900.
