[DigitalToday reporter Yoonseo Lee] Ethereum is being seen as entering a rebound phase after breaking a long period of weakness against bitcoin.

On July 26 (local time), blockchain media outlet U.Today reported that the market’s focus is shifting back to ethereum as technical reversal signals, inflows into spot exchange-traded funds (ETFs) and dominance in the tokenisation market for real-world assets (RWA) strengthen at the same time.

The most visible change comes on the charts. Analyst Axel Kibar (CMT) pointed to the ETH/BTC pair rebounding from a local low of 0.0269 and rising to 0.02918. On the dollar chart, ETH/USD is also seen as breaking above a horizontal neckline after forming a medium-term bottom. Ethereum rebounded from a low near $1,510 to around $1,950 and turned the $1,842 area into a key support level.

From a technical perspective, the level the market is watching is also clear. If the price holds above this support, the next confirmation target for the upward pattern would be $2,163. With the ETH/BTC rebound and the dollar-chart breakout confirmed at the same time, a view is growing that this could be more than a simple short-term bounce and may signal a trend change.

Ethereum’s strength is also being seen beyond the charts. According to figures compiled by analytics platform RWA.xyz, the size of tokenised traditional capital on the Ethereum network has reached $17.1 billion. That is far larger than the combined figures for rival networks such as Solana and BNB Chain. The placement on Ethereum of BlackRock’s flagship fund, BUIDL, and smart contracts from 1,373 major issuers is also read as part of the same trend.

This structure matters because higher network usage translates into demand for fees. The explanation is that as traditional companies execute more transactions on Ethereum, they need ether, the network’s native cryptocurrency, and institutional-investor demand can also build naturally.

Institutional flows have also recovered. Based on Sosovalue, spot ethereum ETFs recorded net inflows of $103.9 million in the week ended July 24. That marked a third straight week of net inflows. Net assets also rose to $10.17 billion, and weekly trading volume held at $2.78 billion. Current demand has absorbed all the outflows recorded in May and June.

The market is focusing on the fact that three factors have overlapped at the same time. With an ETH/BTC rebound, a return of ETF inflows and an edge in RWA tokenisation confirmed simultaneously, the view is that ethereum has a greater chance of emerging from the “shadow of bitcoin”. Even in a quiet summer market, ethereum is increasing its presence across three pillars: price, flows and network utilisation.

The key question is whether the rebound signals will develop into a real trend. In the short term, holding the $1,842 support level is crucial. In the medium term, the durability of ETF inflows and whether tokenisation demand continues will matter. If all three trends hold at the same time, ethereum will be tested on whether it can rise this summer as an independent focal point in the battle for market leadership, rather than an alternative to bitcoin.