$ETH | Is ETH Poised for a Breakout or a Pullback?
Ethereum (ETH) is currently trading around $1,772, showing a modest dip of -1.81% in the last 24 hours — but don’t let that fool you. The second-largest cryptocurrency has rallied over 26% from its recent $1,500–$1,600 range, signaling renewed bullish momentum.
What’s fueling the move?
• A decline in CME short positions suggests market sentiment is turning bullish.
• ETH recently established a strong support zone around $1,688.
• Momentum indicators like the MACD and Ichimoku Cloud are flashing green.
• A long-dormant Ethereum whale moved $27M in ETH after 900+ days — a potential sign of long-term confidence.
Key Resistance to Watch: $1,850 — a breakout above could open the path to $2,000 and beyond.
Looking ahead: Analysts forecast a possible move to $4,000 by year-end, contingent on broader market support and ETH maintaining its current trajectory.
Are we gearing up for lift-off or a cooldown before the next leg up?