#ETHBreaks3700 🔍 What’s Driving ETH Above $3,700?

Institutional ETFs & Inflows

Ether has surged to six-month highs (~$3,700), driven by record inflows into U.S. spot ETH ETFs—totaling nearly $1 billion recently . BlackRock’s ETH ETF alone saw over $500 million flow in .

Whale Accumulation & On‑Chain Demand

Major whales have added over 200k ETH in the past week . Exchange reserves are dropping, while staking share climbs above 27% of supply .

Regulatory Momentum

The GENIUS Act, passed July 18, provides clearer stablecoin regulation and boosts institutional confidence .

📈 Technical & Market Structure

Resistance & Consolidation

ETH decisively broke above $3,500–$3,600 and is testing the $3,700–$3,800 resistance zone. Many analysts expect a consolidation phase within this range before any breakout .

Volatility Pointer: Short Interest

Traders have increased short positions near $3,800. A surprise rally could trigger a short squeeze that pushes ETH higher .

Next Upside Target

Technical analysis points to an initial breakout target at $3,820–$4,000, with potential extensions much higher if a symmetrical triangle breakout occurs .