Ethereum’s H1 recovery remains constructive.

Buyers continue to defend higher lows, while price is gradually pressing toward short-term trend resistance. The structure is bullish, but momentum has not yet produced the breakout needed to confirm a stronger continuation phase.

There is also a fundamental tailwind behind the move.

U.S. spot Ether ETFs recorded three consecutive days of net inflows from August 4–6, totaling roughly $206 million. The pace accelerated each day, with August 6 alone bringing about $92 million of net inflows.

That does not guarantee higher prices, but it means the latest recovery is developing alongside renewed institutional demand rather than purely speculative momentum.

The primary scenario remains constructive while rising trend support holds. A confirmed break above short-term resistance would strengthen the bullish structure and bring the larger trend boundary back into focus.

The alternative scenario begins if buyers lose the latest higher low. That would weaken momentum and suggest the current advance is still part of a broader range.

Invalidation: Sustained acceptance below rising trend support would weaken the bullish continuation thesis.

For now, buyers retain control — but the next structural break matters more than the latest candle.