Ethereum moved slightly higher over the past 24 hours as buyers returned near an important support area. At the time referenced in the report, Ethereum (ETH) was trading at $1,882.46, up 1.38% from the previous day. ETH recorded daily trading volume of $6.87 billion and a market capitalization of $227.18 billion, while accounting for 10.32% of the overall cryptocurrency market.

Ethereum Holds Range Between $1,874 and $1,887

Market analyst Sam Mti said Ethereum has been trading within a narrow range between $1,874 and $1,887. According to the analysis, ETH had a demand area around $1,874 and recently produced another buy signal, suggesting that buyers remained active near that level.

At the time of the analysis, ETH was trading near $1,884, close to the cited support zone. The $1,887 level was identified as the near-term resistance level for bulls. In technical analysis, support and resistance levels are watched as areas where buying or selling has previously appeared, but they do not guarantee future price action. A move above that area, according to the report, could create room for additional short-term gains.

On the downside, analysts were watching the $1,833 to $1,849 range as a critical support zone. A decline below current levels could influence whether buyers re-enter the market near that area.

Lookonchain Reports Additional ETH Purchase by Arthur Hayes

Blockchain tracking platform Lookonchain reported that BitMEX co-founder Arthur Hayes purchased another 645 ETH worth approximately $1.2 million.

According to Lookonchain, Hayes has held 3,915 ETH in his wallet since July 15. The reported position cost approximately $7.47 million, with an average purchase price of $1,909 per ETH. Based on the prices cited in the report, the position was showing an unrealized loss of about $113,000. On-chain wallet data is public on Ethereum and can show transactions tied to identified addresses, though it reflects activity in the tracked wallet rather than a complete view of any person’s total holdings.

Ethereum’s Market Role Keeps Price Levels in Focus

Ethereum is the world’s second-largest cryptocurrency by market capitalization and supports thousands of decentralized applications, stablecoins, and tokenized assets. Because of that role, ETH’s price action is closely followed across the broader digital asset market.

The report said Hayes’ recent Ethereum purchase added to market attention around ETH at a time when spot ETFs, staking, and broader blockchain adoption remain central themes for the asset. Staking is also a core part of Ethereum’s proof-of-stake network, while spot ETF activity has made ETH a more visible asset for traditional market participants. The article also noted that the broader crypto market continues to experience volatility.

Key levels remained central to the analysis. The $1,887 area was identified as the immediate resistance level, while the $1,874 area was described as a nearby demand zone. If ETH fails to hold current levels, analysts cited the $1,833 to $1,849 range as the next important support area.

The report said the next several trading weeks could determine whether Ethereum breaks out of its current range or continues to trade within it as buyers and sellers compete for control.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.