Ethereum Holds Above $1,700 as Analysts Watch $1,709 Gap and $1,960 Test

On-chain accumulation and exchange outflows have cut available spot supply and could support price if buyers clear key resistance levels.

Overview

ETH traded near $1,728–$1,731 on Sunday and is holding the short-term $1,700 support that keeps a tentative recovery alive.
Chartists point to a visible price gap around $1,709 that could be filled, and a break below that gap risks a slide toward $1,692 then $1,650.
$1,960 is identified as the first major higher-timeframe resistance whose clean reclaim would open the path to targets around $2,850 and then $3,740–$4,862.
On-chain signs of institutional buying — notably Bitmine’s multi-million ETH accumulation — plus a June spike in outflows from Binance have reduced immediate sellable supply.
Short-term indicators show improving momentum but no confirmed trend change so traders will watch volume and a close above $1,750–$1,825 as the next sign that the bounce can become a sustained recovery.