Ethereum Hangs by a Thread at $1,800 as Thin Volumes Set Stage for Next Move

Ethereum's price has held steady above $1,800 in recent days, but thin trading volumes raise concerns about another potential drop. The top altcoin has managed to bounce back from two consecutive days of losses, with a 1.5% gain over the last 24 hours.

This uptick in price comes as market sentiment recovers following reports that US inflation cooled down slightly in June. However, the Crypto Fear and Greed Index still sits at 34, indicating a cautious investor attitude.

The recovery is also reflected in Ethereum-linked exchange-traded funds (ETFs), which have seen positive net inflows of $106 million in July. This marks a turnaround from two consecutive months of net outflows.

However, trading volumes remain low, and the Federal Reserve's expected rate hike could dampen sentiment and put a lid on crypto prices. Ethereum market conditions have prevented the token from breaking above $1,800 and may limit its advance beyond the $2,000 threshold in the coming days.