Ethereum Price Today: Breakout Pushes ETH Toward $3,500
2025-07-17 08:51:57
Main Idea
Ethereum's price is experiencing a significant rally, breaking past key resistance levels and approaching $3,500, driven by strong derivatives activity and technical indicators.
Key Points
1. Ethereum price surged past $3,100 and is now approaching $3,500 after breaking out from a multi-month cup and handle pattern.
2. Derivatives data shows a 25.30% surge in ETH futures volume to $156.6 billion and a 6.61% increase in open interest to $49.63 billion, indicating strong buying interest.
3. Technical indicators like Bollinger Bands and EMAs confirm the breakout strength, with price trading above all key moving averages.
4. Short-term outlook remains bullish, with immediate resistance at $3,525 (0.786 Fibonacci level) and support at $3,307 and $3,107.
5. The options market is active, with a 38.31% increase in activity, and top traders on Binance show a strong long bias with a 2.89 long/short ratio.
Description
The Ethereum price today is holding above $3,430 after a steep rally that followed a breakout from a multi-month cup and handle pattern. Price surged past $3,100 earlier this week and is now approaching a key zone near $3,500. Traders are watching closely to see if this upside continuation holds or if a temporary pause sets in at resistance. What’s Happening With Ethereum’s Price? ETHUSD price dynamics (Source: TradingView) The daily chart shows a clear breakout above the handle structure of the...
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