- Bitmine now holds 4.7% of ETH’s total supply, just shy of its 5% target
- SharpLink bought 39,196 ETH worth $62.4M over the past three days
- A prominent forecaster sees ETH at $95,000 a year after the next major bubble pop
Ethereum trades at $1,588.85 on June 30, down 1.35% as price grinds toward the lower end of a multi-month range. Corporate treasuries kept buying through the weakness, even as the broader market questions ETH’s relative performance against Bitcoin.
Is ETH Forming A Bottom Near $1,600?
The daily chart shows ETH trading well below its Bollinger Band basis at $1,671.61, with the lower band at $1,527.39 acting as the floor for the past month. Price broke a rising channel that had held since February, falling from highs near $2,440 to current levels in a sharp, sustained decline through May and June. The Parabolic SAR sits at $1,727.98, well above spot, keeping the short-term trend bearish.
Despite the breakdown, price has stabilized in a tight band between $1,527 and $1,650 for the past two weeks rather than continuing to fall, a sign selling pressure may be exhausting near these levels.
What Are The Key Support And Resistance Levels For ETH Right Now?
- Support at $1,527.39 and $1,576.89
- Resistance at $1,671.61, then $1,727.98 on the SAR
What Do ETH Derivatives Show About Current Positioning?
Derivatives volume jumped 30.08% to $38.20B while open interest slipped 2.19% to $21.89B, a combination suggesting active repositioning rather than fresh leveraged buying. Options volume surged 46.66% to $938.58M, showing traders are increasingly using options to express views rather than relying purely on perpetual futures.
Related: Solana (SOL) Price Prediction for July 2026: Can Bulls Push Above $75 for a Stronger Recovery?
Liquidations over 24 hours hit $77.91M, with shorts taking the heavier hit at $45.56M against $32.35M for longs. The long/short ratio sits at 1.0149, close to balanced, leaving the market without a clear directional bias heading into July.
Why Are Corporate Treasuries Still Buying ETH At These Levels?
Bitmine Immersion Technologies bought 27,084 ETH last week, pushing its total holdings to 5.70 million ETH, equal to 4.7% of Ethereum’s total supply of 120.7 million coins. That puts the company within reach of its long-stated goal to acquire 5% of the network, even as its own stock slides to multi-month lows.
Separately, SharpLink bought 39,196 ETH worth $62.4 million over the past three days, including a single purchase of 29,196 ETH worth $46.7 million.
That kind of accumulation during a price decline suggests these treasuries view current levels as a buying opportunity rather than a reason to pause. Whether that confidence is rewarded depends heavily on whether ETH can stabilize and reverse before treasury balance sheets come under further pressure.
Is ETH’s Long-Term Underperformance Against Bitcoin A Concern?
Analyst PlanB pointed out that ETH/BTC has fallen back to around 0.026, a level last seen in March 2016, noting Ethereum has underperformed Bitcoin over the past decade and didn’t see the kind of bull market pump in 2023-2024 that it experienced in 2017 and 2021. That relative weakness has fueled bearish sentiment around ETH even as absolute price levels remain far above historical lows.
On the more speculative end, commentator Robert Kiyosaki predicted a major bubble burst across markets broadly, forecasting ETH could reach $95,000 a year after such a crash, alongside similarly aggressive targets for gold, silver and Bitcoin. These figures reflect one analyst’s highly speculative long-term view rather than a near-term forecast.
Ethereum Price Prediction: July 2026 Weekly Forecast
| Period | Price Range | Outlook |
| July 1-5 | $1,500 – $1,700 | Range-bound as the market digests recent treasury buying |
| July 6-12 | $1,450 – $1,750 | Volatility around continued Bitmine and SharpLink accumulation |
| July 13-19 | $1,500 – $1,800 | Potential stabilization if support at $1,527 continues to hold |
| July 20-26 | $1,450 – $1,850 | Test of the $1,727 SAR resistance if momentum shifts bullish |
| July 27-31 | $1,500 – $1,900 | Trend resolution depending on broader risk sentiment |
Ethereum Price Prediction: Upside and Downside Targets for July
- Upside case: Treasury accumulation continues to absorb supply, ETH reclaims $1,727 and pushes toward $1,900.
- Downside case: Selling pressure resumes and ETH breaks below $1,527, opening a path toward $1,400 for the first time since early in the cycle.
Related: Cardano Price Prediction July 2026: Is History About to Repeat for ADA This July?
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