š„ Market Snapshot: ETH Breaks $1,800 Amid Mixed Signals
Ethereum (ETH) has surged 12% in the past 24 hours**, reclaiming the $1,780 level and testing the critical $1,860 resistance. On-chain data from IntoTheBlock reveals limited sell pressure above $1,860, with a breakout potentially paving the way for a rally to $2,000** a psychological milestone last seen in early March .Ā Ā
Trading Volume: Spiked to $22.4B (24h), signaling strong liquidity .Ā Ā
Active Addresses: Up **8% to 620K, reflecting growing network activity .Ā Ā
ETH/BTC Pair: Rose 3% but remains near a 5-year low (0.017), highlighting Bitcoinās dominance .Ā Ā
š Technical Analysis: Bullish Momentum or Overbought?
RSI: At 68, ETH is nearing overbought territory but retains bullish momentum .Ā Ā
MACD: Bullish crossover confirmed, supporting upward trend .Ā Ā
Key Levels:Ā Ā
Support: $1,650 (50-day MA) and $1,535 (critical hold) .Ā Ā
Resistance: $1,860 (breakout target), then $2,000.Ā Ā
ā ļøCaution: Hourly charts show a bearish MACD divergence, suggesting potential short-term pullbacks before further gains .Ā Ā
š Whale Alert: Massive Sell-Offs Spark Volatility:
A single whale dumped 50,754 ETH ($90M) over 24 hours, triggering a dip from $1,820 to $1,793. This aligns with broader institutional selling:Ā Ā
Galaxy Digital:Ā
Ethereum Foundation, and Paradigm moved 72K ETH to exchanges, likely for liquidation .Ā Ā
On-Chain Weakness: Transaction fees plummeted 56% weekly, and net flows from major wallets dropped 95%, raising concerns about organic demand .Ā Ā
š” Catalysts to Watch
1. ETF Developments: Potential approval of staking-enabled ETH ETFs could reignite institutional interest .Ā Ā
2. Pectrap grade: Aims to boost scalability, attracting developers .Ā Ā
3. Macro Factors: Fed rate cuts and U.S.-China trade talks may fuel risk appetite .Ā Ā
š ETH Underperformance: A Reality CheckĀ Ā
Despite the surge, ETH is 2025ās worst-performing top-5 crypto**, down 51% YTD vs. Bitcoinās 5% drop. Competitors like Solana are outpacing ETH in DEX volume and developer activity.Ā Ā
š® Outlook: Bullish or Bearish?*
Bull Case: Break above $1,860 could trigger FOMO-driven rallies toward $2,000.Ā Ā
Bear Case: Failure to hold $1,650 may lead to a retest of $1,400.Ā Ā
š Traderās Corner
Short-Term: Watch $1,860 for breakout confirmation.Ā Ā
Long-Term: Monitor staking trends and ETF news for structural shifts.Ā Ā 
š¬ Your take?Drop a comment below! š
