#ETHBreaks3700

Ethereum has indeed broken above the $3,700 level. Here’s what’s driving the move:

🚀 Key Highlights

Clean breakout with momentum: ETH surged past $3,700, forming higher highs and attracting robust buying—chart structure points to continued upward momentum .

Institutional push & whale entry: A ~$50 million whale purchase around $3,715 helped fuel the rally, alongside a record $727 million in inflows to U.S. spot ETH ETFs the week of July 18 .

Technical strength & ecosystem growth: ETH reached ~6‑month highs near $3,750; rising volume, RSI pressure, and Layer‑2/Staking optimism bolster the case toward a $4,000–4,200 breakout zone .

Wider market trends indicate alt‑season: Bitcoin dominance is dipping below 60%, leading capital rotation into Ethereum and other alt‑coins .

📈 What’s Next?

Watch the $3,775–3,860 levels as short-term targets; moving above $4,000 would mark a major breakout .

Be cautious of momentum indicators (e.g., RSI nearing overbought territory), which could spark a short correction .

Over the medium term, institutional inflows, DeFi usage, and Layer‑2 activity could support a push toward $4,200 and beyond .

Summary: Yes — ETH has broken through the $3,700 barrier with strong technical and institutional backing. Price is currently hovering around $3,750. The next key resistance zone is $4,000 to $4,200. Keep an eye on momentum indicators and ETF/whale activity for potential continuation or pullbacks.