Ethereum price It finally reclaimed the $1,800 resistance level after spending weeks trading below that level, marking one of the strongest technical developments in recent sessions. The breakout comes as market participation accelerates, with a high-profile trader opening a $24.3 million leveraged long position on ETH. This move quickly shifted traders’ attention towards the next major psychological milestone at $2,000. But is this breakout backed by enough conviction to sustain another leg higher?
Ethereum breaks major resistance, eyes next major hurdle
Ethereum’s recent break above the $1,800 resistance area represents an important shift in short-term market structure after weeks of consolidation. This move was accompanied by higher trading volume, suggesting that buyers entered with conviction rather than the rally being driven solely by low liquidity.
Momentum indicators also support bullish expectations. The daily RSI rose above the 60 level, reflecting strong buying pressure while remaining below the overbought zone. Meanwhile, the cumulative volume delta (CVD) has shifted upward, indicating that aggressive buyers in the market are increasingly raising offers rather than passively waiting for lower prices. This alignment between rising prices and CVD adds credibility to the breakout by showing that buying pressure is supporting the move.
However, the bulls still face a crucial test ahead. The next major resistance is between $1,940 and $1,970, an area that previously served as support before turning into a supply zone after the sharp decline in June. A sustained move above this range could strengthen the case for a broader recovery towards the psychological $2000 level, while rejection could encourage sellers to regain control.
Can ETH sustain its breakthrough? Here’s what traders are watching
The bullish momentum has also been reflected in the derivatives market, where prominent crypto whale Machi Big Brother recently opened a $24.3 million long position on Ethereum with 25x leverage. While such notable trades often attract the market’s attention, they should not be viewed as standalone buy signals. Instead, they provide insight into how sophisticated traders identify around key technical levels.
Liquidation data indicates a group of short positions above the current price, creating the potential for a short squeeze if the Ethereum price continues to rise. At the same time, there remains a much larger pool of long liquidations below the market, suggesting that any failure to sustain the recent breakout could lead to an equally sharp move in the opposite direction.
Bottom line
Ethereum price recovery gained momentum after reclaiming a key resistance area, with improving volume, rising CVD, and renewed whale activity fueling the short-term bullish narrative. However, the $1940-$1970 resistance range remains the defining level for the current trend.
A break above this area could strengthen the case for a move towards $2,000, while a rejection could shift attention back to the $1,800 support level.
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