#ETHBreakout3.5k
🤯🤯 • ETH rose to $3,625.60 (July 8-18), breaking key resistance levels
• MACD shows bullish momentum, but the RSI at 76.3 indicates overbought conditions.
• The price is consolidating between $3,400-$3,600 with critical resistance at $3,350.
• Discussions of ETH breaking the $3K highlight a potential target of $4,000
Market Catalysts.
• Institutional momentum: ETH ETFs attracting capital, SharpLink Gaming acquired 339,700 ETH.
• On-chain activity: Network usage increasing despite Jump Crypto selling 11,802 stETH ($40.5M)
• Regulatory tailwinds: Resolution on XRP ETF and the upcoming Genius Act generate positive sentiment.
• ETF inflows show the impact of institutional adoption.
