While Ethereum remains under pressure again after the recent recovery, its price action is at a critical technical threshold. While ETH was traded at $ 1,806.6, it increased by 0.32 percent in the last 24 hours. In the same period, the 24-hour trading volume was 14.73 billion dollars and the market value was 217.99 billion dollars.
Resistance pressure stands out in the technical view
Cryptocurrency analyst Ali Martinez states that on July 12, 2026, Ethereum was trading in the upper band of the ascending channel. According to Martinez, the TD Sequential indicator also produced a sell signal. This structure is considered a technical outlook that indicates a loss of momentum and a possible correction after a strong rise.
Mini dictionary: TD Sequential is one of the technical analysis indicators used to detect fatigue and possible direction change in price movement. It is generally followed to indicate areas where the trend is nearing its end.
Ali Martinez emphasizes that the TD Sequential indicator gave a sell signal while Ethereum was testing the upper limit of the channel, and this combination may bring about a correction first to $ 1,770 and then to $ 1,700.
It is stated that if the selling pressure increases in the current resistance area, ETH may retreat to $ 1,770 in the short term. If this level is broken below, the next important support stands out as $ 1,700. Although technical indicators alone do not provide definitive direction, investors watch these instruments closely to identify areas where buying and selling interest may be concentrated.
Interest continues in the derivatives market
While price movement remains limited on the spot side, participation in the Ethereum derivatives market appears to be increasing. Open position size increased by 0.64 percent to 24.88 billion dollars. Derivative transaction volume increased by 48.17 percent to 28.16 billion dollars.
| Indicator | Latest data | Change |
|---|---|---|
| ETH price | $1,806.6 | 0.32 percent |
| open position | $24.88 billion | 0.64 percent |
| Derivative volume | $28.16 billion | 48.17 percent |
| Funding rate | 0.0009 percent | slightly positive |
An increase in trading volume along with an open position may indicate that new positions have entered the market. The fact that the OI-weighted funding rate remains slightly positive at 0.0009 percent indicates that there is a balanced but limited upward trend in the derivatives market. Although this outlook indicates the existence of leveraged purchases, it does not yet indicate an extreme squeeze.
Monitored levels became clear
Ethereum is among the most closely followed assets of the cryptocurrency market because the direction change in its price often affects the perception in major altcoins. Therefore, overcoming the current resistance zone is important not only for ETH but also for the market in general.
Maintaining permanence in the $1,770 and $1,700 regions is seen as critical for maintaining the current recovery trend. If these supports are lost, the risk of a deeper withdrawal may increase before new buying interest emerges.
Ethereum’s direction in the next few trading days may take shape at this technical threshold. If the upper limit of the channel is exceeded, the effect of the sell signal may weaken. On the other hand, if the resistance remains strong and the selling continues, investors are expected to closely watch the $1,770 and $1,700 levels in the short term.
