ETH reclaims 5-year trendline and $2,000 level after strong 20% rally.
Weekly MACD turns bullish, signaling renewed momentum and institutional accumulation.
Exchange reserves drop as whales buy; derivatives and on-chain data show rising optimism.
Ethereum — ETH, is now exploding with new life. After weeks of sluggish action, the top altcoin just reclaimed a crucial five-year trendline. Thursday’s rally pushed prices 20% higher, bringing ETH back above $2,000. That’s not all. A bullish MACD crossover on the weekly chart adds even more heat to the fire. Traders, whales, and institutions have taken notice. This comeback story just got its plot twist—and nobody’s calling Ethereum dead now.
https://twitter.com/Washigorira/status/1921861333516955940 US-UK Trade Deal Sparks Ethereum Surge
The breakthrough in US-UK trade negotiations acted like rocket fuel for Ethereum. A new deal trimmed baseline tariffs to 10% and removed levies on steel and aluminum. That news sent shockwaves through markets. Ethereum responded faster than other top altcoins, rocketing past $2,000 with force. Trump mentioned ongoing talks with several nations, hinting at more easing. Ethereum’s quick recovery from Q1’s tariff-fueled slump proves investor faith runs deep. Digital asset firm Abraxas Capital made headlines by acquiring 49,644 ETH.
Data from Lookonchain confirmed purchases through Binance and Kraken. Meanwhile, exchange reserves dropped by 132,000 ETH in just four days. That figure has been 323,000 since late April. Such a sharp decline shows mounting accumulation pressure. Over in the derivatives market, Ethereum's open interest surged to $25 billion. This jump suggests fresh money entering long positions. The rally follows a clear technical path—bouncing from strong $1,800 support, backed by both 14-day EMA and 50-day SMA.
What’s Next for Ethereum’s Price?
Ethereum’s price action mirrors Bitcoin’s, which broke $100,000 again for the first time since February. Traditional stocks joined the celebration, with the S&P 500 and Nasdaq-100 gaining over 1%. That growing correlation highlights Ethereum’s increasing role in broader financial sentiment. A successful Pectra upgrade recently rolled out, boosting Ethereum’s main chain. Developers already have eyes on the Fusaka update, expected later this year.
The Ethereum Foundation also injected $32.64 million in grants to accelerate ecosystem growth. On the charts, technical indicators now tell a powerful story. The RSI and Stochastic Oscillator both sit in overbought territory. This signals strong bullish pressure but also room for short pullbacks.
Liquidation data shows bears took heavy losses. More than $188 million in futures positions vanished—most of them short. If Ethereum reclaims the $2,100 to $2,250 resistance zone, a charge toward $2,550 looks likely. Breaking that range could spark a much larger recovery. The fire’s back. Traders feel the heat—and Ethereum just might burn brighter than ever.
