Ethereum (ETH) climbed above $1,900 after a technical breakout, $57.7 million in whale withdrawals and heavy short liquidations strengthened the recovery.
Key Points:
- Ethereum broke above $1,894.89 and advanced toward $1,923.82.
- Three new wallets withdrew 30,000 ETH from Coinbase Prime.
- Bulls must defend $1,900 as support to keep the rebound intact.
Ethereum Breakout
Ethereum moved through the $1,894.89 resistance area after several days of consolidation, according to the ETH/USD chart on TradingView. The move later reached $1,923.82, putting the $1,940 to $1,950 zone within range.
Lower-than-expected U.S. inflation also improved demand for risk assets, adding support to a rally that had already begun before the data release.
The volume spike was the chart’s largest green bar. Trading then slowed below the next barrier, but the pause did not produce a sharp reversal. The relative strength index remained above 70, showing that momentum had not shifted back to sellers.
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Ethereum Whale Demand
Liquidation data from CoinGlass showed more than $112.5 million in positions closed over 24 hours, including about $92.2 million in shorts and $20.4 million in longs. Shorts accounted for most of the losses. The imbalance extended the advance because bearish traders had to close positions while Ethereum held near $1,920.
Another concentration of leveraged short positions sat near $1,950, making that level a possible target if buyers maintain pressure and trigger another round of forced exits.
Spot activity offered additional support. Three newly created wallets withdrew 30,000 ETH, worth about $57.66 million, from Coinbase Prime through three separate transfers of 10,000 ETH each.
Moving coins into private wallets reduces the amount immediately available for sale, but withdrawals do not prove that holders will keep the assets long term or continue buying.
Before the breakout, Ethereum spent days consolidating below $1,894.89. A sustained hold above that former ceiling would mark a clearer structural change than the initial surge alone.
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