$ETH went from being heavily dismissed to putting in a nearly 20% daily move, and that kind of reversal gets my attention. The broader crypto rally and roughly $1.4B in liquidated shorts clearly added fuel, but the chart still needs confirmation. On the 15m, ETH broke higher from around $2,251 and pushed into $2,297.65 with a strong volume expansion. Price is now hovering near $2,281 after rejection from the local high. I’m watching $2,269 as the first support and $2,297.65 as the level bulls need to reclaim. If volume returns on a breakout, continuation could get interesting. Otherwise, this may just be a relief rally.
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