Ethereum price moved above the $1,900 resistance level as stronger demand across crypto and stock markets supported risk assets. ETH reached an intraday high near $1,950, its strongest price in seven weeks.
The rally pushed Ether about 29% above its June 26 low near $1,500. It also triggered roughly $62 million in liquidations from traders holding leveraged bearish positions. Still, ETH must clear several resistance levels before $2,100 becomes the next confirmed target.
Ethereum price followed Bitcoin higher as BTC crossed $66,500 and the total crypto market gained value. A rebound in US technology shares also supported demand for ETH. The Nasdaq Composite rose 1.3%, while the S&P 500 gained 0.9%.
ETH now faces its first major barrier between $1,945 and $1,953. Buyers tested this area twice but failed to secure a daily close above it. A confirmed break could expose the 100-day moving average near $1,981, followed by the psychological $2,000 level.
Liquidation data also shows a large pool of leveraged positions between $1,950 and $1,960. Additional liquidity sits near $1,980 and $2,000. A move through these levels could force short sellers to close positions, adding more buying pressure.
Ethereum trades inside an ascending channel that started near the late-June low of $1,514. The upper part of this structure points toward $2,080. This level sits close to the wider $2,100 target watched by traders.
On the downside, traders monitor the $1,870 to $1,900 demand zone. Analyst Ted Pillows said, “If the $1,870–$1,900 level holds, Ethereum could soon rally above $2,000.”
A break below $1,859 could expose $1,828, while a daily close above $1,953 would strengthen the path toward $2,000 and $2,100.
Ethereum’s network data has not matched the recent price recovery. Weekly decentralized exchange volume dropped to about $7.2 billion, while decentralized application revenue fell to $9.8 million. This marked the lowest level since September 2024.
Lower activity reflects weaker demand for memecoins and utility tokens on Ethereum. Several major ecosystem tokens, including Ethena, Mantle and Arbitrum, have also recorded losses of at least 50% this year.
Derivatives traders also show caution. ETH perpetual futures funding rates have struggled to hold inside the neutral annual range of 6% to 12%. Rates have improved since turning negative in late June, but traders have not built large bullish positions.
Ethereum staking reached a record 34% of the total ETH supply, according to Staking Rewards. The rate stood near 33% one month earlier. Higher staking reduces the amount of Ether available for immediate sale on exchanges.
Institutional accumulation has also continued. Bitmine Immersion added 156,719 ETH during the past month and now controls around 4.8% of the available supply. US spot Ethereum exchange-traded funds recorded $37.47 million in net inflows during the latest session.
BlackRock’s ETHA fund attracted $52.7 million, although withdrawals from Fidelity’s FETH reduced the total. These inflows provide another source of demand as Ethereum attempts to recover from a six-month decline.
ETH has also gained strength against Bitcoin. Analysts MikybullCrypto and Daan Crypto Trades noted that ETH/BTC reclaimed its weekly bull market support band and moved above a long-term descending trendline.
A sustained move above 0.03 BTC could open the 0.032 to 0.035 BTC range. Daan cautioned that ‘BTC will have to lead the market,’ showing that Ethereum’s recovery still depends partly on Bitcoin holding its recent gains.
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