Ethereum Holds Steady Amid Bullish Momentum
Key Takeaways
- Ethereum (ETH) remains stable above the critical support level of USD 1,770.
- Network activity and investor sentiment suggest a potential price rally.
- Resistance at USD 1,867 remains the key hurdle for a breakout towards USD 2,030.
- High leveraged positions increase the risk of sudden price movements.
Stable Support at USD 1,770
Ethereum is currently showing stable price action above the support zone at USD 1,770. According to data from IntoTheBlock, over 4.56 million wallets have purchased ETH at this price level. This zone serves as a strong foundation for the current price. At the time of analysis, ETH was trading around USD 1,830 — a slight increase of 0.09% within 24 hours.
Investor Sentiment Remains Positive
Both general market sentiment (0.71) and institutional investor behaviour (0.18) show a bullish tendency, according to Market Prophit. These figures indicate optimistic expectations. Combined with the stable support at USD 1,770, this could suggest an impending breakout — provided external factors such as macroeconomic uncertainties remain limited.
Network Activity Sees Significant Increase
A look at on-chain data reveals a clear uptick in Ethereum network activity. The number of new wallets increased by 79.09% within a week. Active addresses also rose by 11.41%. Interestingly, the number of zero-balance addresses grew by 105.49%. This could indicate experimentation with new wallets, the clearing of old accounts, or lost access credentials. Overall, the growing network signals continued user adoption.
Liquidity on Exchanges Slightly Increases
ETH reserves on centralized exchanges currently stand at around USD 36.07 billion — an increase of 1.16%. More ETH on exchanges can signal upcoming sell-offs, but also preparation for volatile market phases. The price is currently moving between key leverage zones. The Binance liquidation map shows that there are many short positions below USD 1,800, while above USD 1,850, numerous high-leverage (50x to 100x) long positions are open. A strong price impulse could trigger these positions and lead to rapid price movements.
Leverage Data Supports Bullish Scenario — With Risk
According to Binance, 64.67% of ETH traders are currently in long positions. The long/short ratio stands at 1.83. This distribution reflects confidence in rising prices, but also carries risks. If the price drops suddenly, many long positions could be liquidated — a so-called long squeeze. Nevertheless, the overall picture currently points to a continuation of the upward trend.
Resistance at USD 1,867 as Key Level
Technically, Ethereum is moving within a narrow range between USD 1,770 and USD 1,867. The latter level has proven to be a stubborn resistance in recent weeks. A breakout above it could pave the way to the next target at USD 2,030 — the 1.618 Fibonacci extension level. However, the stochastic RSI, with a value of 96, indicates overbought conditions. This suggests short-term caution, even though the chart overall points to a classic breakout setup.
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Our Assessment
Ethereum currently shows a solid foundation: stable support, growing network activity, and positive investor sentiment. The current price zone between USD 1,770 and USD 1,867 forms a clear technical structure. A breakout above the resistance at USD 1,867 could trigger a new upward movement. At the same time, the high leverage distribution increases the risk of abrupt price swings. Those who are invested in ETH or planning to invest should closely monitor developments in the coming days — especially if the price rises above the USD 1,850 level.
Sources
- IntoTheBlock
- Market Prophit
- Binance
- TradingView
- Coinglass
| Symbol | ETH |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $1,806.50 |
| 24h % | -1.39 % |
| 7d % | -0.58 % |
| 30d % | -0.02 % |
| 60d % | -21.32 % |
| 1y % | -42.44 % |
| Market Cap | $218,101,625,607.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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