Ethereum (ETH) recently experienced a strong price increase to nearly 3,000 USD due to short liquidations and positive U.S. economic data.
ETH's price surged after short contract liquidations and optimistic signals from lower-than-expected U.S. unemployment claims data, creating momentum for the cryptocurrency market to break out.
MAIN CONTENT
The price of Ethereum rose to 2,967 USD due to positive U.S. economic data and large short liquidations.
ETH reserves on exchanges decreased by 2.03%, showing a holding trend and tightening supply and demand.
ETH whales are increasing their accumulation, pushing Open Interest up to nearly 7 billion USD with optimistic signals from the derivatives market.
What is driving the strong rise in Ethereum's price?
ETH's price surged after two rounds of short liquidations around 2,700 and 3,000 USD, triggered by lower-than-expected U.S. unemployment claims data on July 10. According to CryptoQuant, this indicates economic resilience, reducing recession fears.
This event triggered strong buy orders on Binance combined with thin liquidity, leading to mass short liquidations. As of now, ETH is fluctuating around 2,967 USD with Open Interest rising to nearly 7 billion USD, reflecting traders leveraging expectations of an upward trend.
Does the decrease in ETH reserves on exchanges signal further upward trends?
Data from CryptoQuant shows that ETH reserves on exchanges decreased by 2.03% to about 56 billion USD, reducing selling pressure. This situation typically indicates that investors are holding more coins, especially during optimistic market phases.
As the amount of ETH on exchanges decreases, the market becomes more sensitive to supply and demand fluctuations. This also forms the basis for upward momentum as the derivatives market provides thrust, helping ETH surpass significant resistance zones.
Are ETH whales accumulating strongly?
Data from IntoTheBlock recorded a net buying flow of large investors in the past 7 days increasing by 18.95%, showing that whales continue to accumulate ETH despite price fluctuations. This is a sign of confidence in medium-term upward momentum, especially as macro signals become less pressured.
Whales continuously accumulating ETH demonstrate strong confidence in the growth potential of the leading smart contract coin.
— Jared Tate, Investment Director at IntoTheBlock, July 2025
Maintaining the price above 2,900 USD along with whale accumulation could help ETH build a solid foundation to break through 3,000 USD in the near future.
What does the derivatives market indicate about the long-term trend?
Derivatives data shows very positive market sentiment. The average Funding Rate is high following positive U.S. economic data, indicating that traders are willing to pay fees to maintain long positions, forecasting that upward momentum will continue.
This is similar to previous breakouts when leverage and Open Interest increased rapidly, creating strength for Ethereum's price to surpass significant resistance.
Can ETH break through the 3,000 USD resistance?
ETH is approaching the Fibonacci resistance zone of 1.618 near 3,000 USD, with the next target levels being 3,457 and 3,870 USD. However, the Stochastic RSI indicator is signaling overbought at 100, warning of a potential short-term correction.
If ETH holds steady and breaks above 3,000 USD with strong volume, the upward trend could continue towards higher Fibonacci target levels. Conversely, a short-term correction could occur.
Can Ethereum maintain its upward momentum or will it correct?
The upward trend of Ethereum is strengthened by many fundamental and technical factors: positive macro data, whale accumulation, and signals from the derivatives market. However, the important resistance zone around 3,000 USD along with overbought conditions may pose difficulties in the short term.
ETH holding above the 3,000 USD threshold will be a decisive signal for the next trend of this coin.
— Maria Nguyen, Cryptocurrency Market Expert, July 2025
Sustainable growth requires a combination of new capital flows and supportive macro factors. If it successfully breaks through this zone, ETH will aim for 3,400 USD and above; otherwise, there will be a correction to watch for.
Frequently Asked Questions
What is driving the sharp rise in Ethereum's price? The price increase is due to positive U.S. economic data, large short liquidations, and whale purchases in the derivatives market. What does the decrease in ETH reserves on exchanges mean? A decrease in reserves implies less supply on exchanges, reflecting that investors are accumulating more and supporting the price increase. Are Ethereum whales still accumulating? Whales continue to accumulate ETH, raising their holdings to nearly 19% over the past week, showing confidence in the upward trend. How does the derivatives market react to ETH's price? A high positive Funding Rate indicates that investors are heavily buying long-term and expecting ETH to rise further. Will ETH surpass the 3,000 USD mark? ETH is testing the resistance zone of 3,000 USD; if successful, it will pave the way for an increase to the next Fibonacci targets.
Source: https://tintucbitcoin.com/ethereum-tang-gia-rao-can-3-400-usd/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news on the cryptocurrency market and not miss any important information!
