ETH just closed a weekly candle above $2,700 for the first time in 9 months 📈
This isn't a quick intraday tag — a full weekly close above this level is a meaningfully stronger signal. Context on why this matters:
We've been tracking the "new cycle vs. recovery" debate on Square this week — ETH's Q3 return was +70.9%, its best on record, but started from a deeply beaten-down base after two brutal quarters (-29% Q1, -25% Q2). This weekly close is the first real technical confirmation that the move has staying power, not just a bounce.
The open question remains the same: the 10Y Treasury yield is still sitting well above ETH's ~2.6% staking yield, meaning the opportunity-cost argument against holding ETH hasn't gone away. A second consecutive weekly close above $2,700 would make this reclaim far more convincing than a single week.
Also worth noting: this comes in the same week Bitcoin's seeing mixed signals (ISM miss today, FOMC minutes Wednesday) — ETH holding strength while BTC digests macro data is a divergence worth watching.
Does this hold through next week, or was this week's strength a one-off?
$ETH
$BTC
#Ethereum #CryptoMarket #ETHBreakout
This isn't a quick intraday tag — a full weekly close above this level is a meaningfully stronger signal. Context on why this matters:
We've been tracking the "new cycle vs. recovery" debate on Square this week — ETH's Q3 return was +70.9%, its best on record, but started from a deeply beaten-down base after two brutal quarters (-29% Q1, -25% Q2). This weekly close is the first real technical confirmation that the move has staying power, not just a bounce.
The open question remains the same: the 10Y Treasury yield is still sitting well above ETH's ~2.6% staking yield, meaning the opportunity-cost argument against holding ETH hasn't gone away. A second consecutive weekly close above $2,700 would make this reclaim far more convincing than a single week.
Also worth noting: this comes in the same week Bitcoin's seeing mixed signals (ISM miss today, FOMC minutes Wednesday) — ETH holding strength while BTC digests macro data is a divergence worth watching.
Does this hold through next week, or was this week's strength a one-off?
$ETH
$BTC
#Ethereum #CryptoMarket #ETHBreakout
