Ethereum Price Forecast: Potential Rise to $2,400

Author: Alejandro Arrieche

Published: July 10, 2026

Key Highlights

• Ethereum (ETH) has recently recovered, retesting a significant resistance level at $1,800.
• Despite a 25% increase in the last 24 hours, trading volumes remain low, indicating a lack of strong market momentum.
• A potential double-bottom pattern could see ETH rise to $2,400 if confirmed.

Current Market Situation

Ethereum has shown a notable recovery, hitting the $1,800 resistance level again. This level is crucial, as breaking above it could signal the start of a new upward trend for the cryptocurrency. However, the market appears to be largely unaffected by rising geopolitical tensions, particularly between the U.S. and Iran, focusing instead on Ethereum's price movements.

Trading Volume Analysis

Trading volumes for ETH increased by 20% as it approached the $1,800 resistance, totaling $9.3 billion, which is about 4.3% of its circulating market cap. Despite this spike, the overall trading volume remains below typical levels seen during significant market movements, suggesting that traders are still hesitant.

On-chain data indicates that the distance between the 7-day and 30-day moving averages for trading volumes is significant, which often precedes shifts in market trends.

Open Interest and ETF Trends

Open interest in ETH futures has been declining, down 14% over the past month and a half, reflecting reduced trader participation. Additionally, Ethereum-linked ETFs experienced a $52 million outflow, breaking a five-day streak of positive inflows, which indicates that speculators are cautious following recent downturns.

Market Sentiment

Despite the cautious sentiment, the Crypto Fear and Greed Index has improved, rising to 30 from a low of 14. However, this recovery is not yet strong enough to confirm a sustained bullish trend, as interest in ETH remains tepid and ETF inflows are fragile.

Future Projections

If Ethereum can break above the $1,800 resistance, it could trigger a short squeeze, potentially pushing the price up to $2,400. This target aligns with the 200-day exponential moving average and previous resistance levels from earlier in the year.

Conclusion

While Ethereum's recent price action shows promise, the lack of robust trading volume and declining open interest suggests that a true recovery is still uncertain. Traders should watch for a breakout above $1,800 to confirm the potential for further gains.