Ethereum prices surge – But what’s stopping ETH’s run to $3,400
2025-07-13 00:09:08
Main Idea
Ethereum's price surged due to bullish U.S. jobless claims data and short liquidations, with potential for further upside supported by shrinking exchange reserves, whale accumulation, and bullish derivatives positioning.
Key Points
1. Ethereum's price surged sharply following two short liquidation events near $2.7K and $3K, triggered by bullish U.S. jobless claims data.
2. Ethereum’s Exchange Reserves have dropped by 2.03%, suggesting supply scarcity may enhance upward momentum.
3. Whale accumulation has strengthened Ethereum’s bullish outlook, with an 18.95% increase in large holder netflows over the past 7 days.
4. ETH’s OI-Weighted Funding Rate surged, indicating rising long exposure and expectations of continued gains.
5. Ethereum approaches a critical resistance zone at the 1.618 Fib projection, with future resistance levels at $3,457 and $3,870.
Description
Ethereum rallies as macro data, whale inflows, and leveraged longs push price near $3000 resistance.
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