Ethereum (ETH)
Key points:
At press time, ETH was trading at $1,644, reflecting a 4.14% increase over the last 24 hours.
It was one of the top trending cryptocurrencies as whale activity and EIP-7907 buzz gained traction.
What you should know:
Ethereum broke above its Bollinger midline for the first time in weeks, signaling the early stages of a potential breakout from its prolonged downtrend. The daily RSI climbed to 45.7 but remained below the neutral 50 level, indicating a cautious shift in market momentum rather than an overbought impulse. Volume also surged alongside price action, suggesting active participation from buyers. Whale wallets were reported to have accumulated over 4,500 ETH in the past 48 hours, a move interpreted as growing confidence in Ethereum’s near-term prospects. Adding to the narrative, Ethereum’s EIP-7907 upgrade received final approval, promising improved smart contract efficiency. Analysts now suggest that if ETH maintains above $1,620, it could aim for the $1,700–$1,750 resistance zone. However, failure to sustain momentum could drag prices back toward support at $1,560.
