📈 Ethereum (ETH) – Daily Market Update

• Current Price: $1,767.04

• 24h Change: +11.35%

• Intraday High: $1,778.61

• Intraday Low: $1,573.86

• Market Cap: $212.9 billion

• 24h Trading Volume: $23.43 billion 

Ethereum has experienced a significant rebound, with its price increasing by over 11% in the past 24 hours, reaching its highest level since early April. This surge is attributed to renewed investor interest and broader market optimism.

🔍 Key Drivers Behind the Rally

1. Short Squeeze and Liquidations

Ethereum’s price surge led to the liquidation of approximately $42.33 million in short positions, as traders betting against ETH were forced to cover their positions amid the rapid price increase. 

2. Technical Breakout

From a broader historical perspective, Ethereum’s price has penetrated a significant zone between $1,640 and $1,520. Upon touching the $1,386 support level, liquidity from this key range has been absorbed, forming a weekly doji candle—raising expectations of a potential strong rejection from this area. 

3. Institutional Activity

Despite the recent price gains, Ethereum faces challenges with institutional outflows. Notably, Galaxy Digital has sold approximately $105 million worth of Ethereum and converted most of it into Solana, signaling a significant portfolio shift. 

📉 Challenges and Considerations

Despite the recent gains, Ethereum remains the worst-performing major crypto asset in 2025, with its price down nearly 51% year-to-date. This underperformance has sparked concerns about Ethereum’s future, especially as alternative chains like Solana and Base continue to gain momentum.

🔮 Outlook

Analysts suggest that if Ethereum maintains its current momentum, it could test the $2,100 resistance level. A successful breakout above this level may signal the end of the long-term downtrend and pave the way for further gains