News report states that as of Tuesday, July 21, 2026, Ethereum (ETH) passed the $1,950 resistance level for the first time in seven weeks which resulted in an increased $62 million liquidations from bearish investors. Compared from June 29, when the market hit a low of $1,500, the increased price values delivered 29% gain and affected Bitcoin (BTC) market value above $66,500.
Now investors are questioning, can the bullish market persist and surpass $2,100 mark for Ethereum?
The effects of Ethereum’s sudden price increase
The surge of Ethereum price is caused by positive momentum of US equities, with stable corporate earnings from 3M Company (MMM US). This increase helped ease investors’ worry for stretched valuations for Artificial Intelligence (AI) stock rally.
To boost further confidence, investors are also focused on Alphabet’s cloud revenue growth, Google’s parent company, which is expected to hit at 64%. Reports say that further strong earnings could boost the cryptocurrency market past the $2 trillion total capitalization mark.
The reality on Crypto side
While the increased Ethereum value shocked bear investors for the sudden market change, it is important to note that the general overview for Ethereum metrics remain stagnant starting six months ago. The reason being there is less interest shown for memecoins and utility tokens which are traded on Ethereum networks and resulted in less traffic for Ethereum networks.
Moreover, the top projects of Ethereum, Ethena (ENA), Mantle (MNT), and Arbitrum (ARB), still have projected loss of 50% and subject to increase as year the ends. In addition, the weekly revenue of Ethereum decentralized applications (DApps) decreased since September 2024, amounting to $9.8 million only.
In present, figures from June from Ethereum staking data (from StakingRewards) shows that the funding rate of remained low neutral in range of 6% to 12% only, in simple terms, Ethereum market shows negative rates since the month of June.
Predicting the Ethereum Market
The increased interest for Ethereum now demonstrates current Ethereum staking with investors expecting further price gains. Figures from recent Ethereum staking data from StakingRewards show a high staking price of Ethereum currently at 34%, surpassing the previous 33%. But it is also important to note that the staking increase reflects tightened availability of Ethereum supply, which could further amplify market prices to surge due to supply limit.
For investors, while riding the waves can be beneficial, it is advised to remain cautious for sudden price drops and market changes. Ethereum’s way to attain the price of $2,100 is still dependent on external variables such as 3M’s stable earnings and Alphabet cloud’s revenue growth, rather than organic demand for interest in the Ethereum market.
