Ethereum has decisively broken above the $3,700 level today (July 20, 2025), trading in the $3,700–$3,770 range and marking a solid intraday gain of around 4%–5% .

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📰 What’s Fueling the Breakout?

1. Regulatory and Institutional Tailwinds

The GENIUS Act passage and regulatory clarity around staking are boosting institutional confidence .

Major inflows into Ether spot ETFs—especially BlackRock’s proposal now accommodating staking—are ramping up demand .

2. Technical Strength & Market Structure

Ethereum has shattered the key supply zone at $3,600–$3,700, turning previous resistance into support .

Technical indicators show a classic breakout: RSI in overbought territory (~73–78), MACD bullish—signaling momentum might continue .

The ETH/BTC pair has confirmed a breakout on the 2‑hour chart, reinforcing the broader bullish narrative .

3. On‑Chain Whale Activity

Surprisingly, a wallet linked to a major Coinbase hacker has turned bullish—adding ~650 ETH around $3,560—alongside institutional-grade wallet accumulation (~58,000 ETH) .

Additional whale behaviours include profit-taking by others, but overall accumulation remains dominant .

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📈 Market Reaction & Outlook

Analysts note this breakout signals the beginning of an altcoin season, with potential next targets at $3,900 and $4,000+ .

Still, some caution remains as Ethereum approaches $3,714–$3,750 resistance—typically a zone for short-term consolidation .

If the $3,700–$3,750 zone holds, the bullish trend may persist toward the $4,000 psychological level. A breakdown below $3,600–$3,500 might trigger a pullback .

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💡 Key Takeaways for Traders

Level Impact

Support $3,600–$3,700 (now key zone)

Immediate Resistance $3,750–$3,800

Aggressive Targets $4,000–$4,200+

Stop‑Loss Reference $3,400–$3,500

Traders are eyeing bullish continuation, with entry zones between $3,680–$3,700 and stop placements under $3,635 .

Conservative investors might wait for a retest of $3,600–$3,650 for a safer entry.

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✅ Summary

Ethereum's move past $3,700 today marks a key bullish breakout, backed by institutional ETFs, technical momentum, and on-chain accumulation. The next major targets are $3,900 and $4,000, but short-term profit-taking and a possible retest of support are not off the table. All eyes now on whether the $3,700–$3,750 level becomes firm support or resistance.

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