Overview
- ETH confirmed a breakout above the $1,820 resistance and is trading around $1,868 after buyers defended the zone on a quick retest on Monday.
- On-chain tracking showed two newly created wallets sold a combined 72 BTC and used the proceeds to open 12,000 ETH in leveraged long positions, a large and concentrated bet on higher prices.
- U.S. spot Ethereum ETFs recorded about $105 million in net inflows for the week of July 13–17, providing renewed institutional demand that analysts say supports the rally.
- Market technicians set a near-term target near $2,500 if current support holds and say reclaiming moving-average resistance in the $2,400–$2,900 band is needed for a durable bull trend, while longer-term chart work points to $4,865–$9,145 if momentum extends.
- The move is exposed to clear risks including forced liquidations from the new leveraged positions, concentration of whale holdings, and a weekly close below $1,510 that analysts say would weaken the recovery after June’s drop into the mid-$1,500s.