$ETH Breaks $2,300 — Bulls Take Back Control
Ethereum just smashed through the $2,300 level, trading near $2,350 and up over 25% on the week. This is ETH's strongest level since May.
📊 What's driving it:
The breakout followed weeks of sideways chop between $1,800–$1,950. Falling Treasury yields and a wave of short liquidations (~$1.1B in ETH shorts wiped out) forced bears to buy back in, fueling the squeeze.
🔑 Key levels to watch:
• $2,300 = ETH's on-chain realized price (avg cost basis) — a hold above here flips resistance into support
• Break confirmed → next target zone: $2,400–$2,500
• Downside support: $2,100–$2,150
Momentum looks stretched after the sharp rally, so don't rule out short-term profit-taking. The real test now: can spot demand hold the move once the squeeze fades?
#ETHSurpasses2300 #Ethereum
Ethereum just smashed through the $2,300 level, trading near $2,350 and up over 25% on the week. This is ETH's strongest level since May.
📊 What's driving it:
The breakout followed weeks of sideways chop between $1,800–$1,950. Falling Treasury yields and a wave of short liquidations (~$1.1B in ETH shorts wiped out) forced bears to buy back in, fueling the squeeze.
🔑 Key levels to watch:
• $2,300 = ETH's on-chain realized price (avg cost basis) — a hold above here flips resistance into support
• Break confirmed → next target zone: $2,400–$2,500
• Downside support: $2,100–$2,150
Momentum looks stretched after the sharp rally, so don't rule out short-term profit-taking. The real test now: can spot demand hold the move once the squeeze fades?
#ETHSurpasses2300 #Ethereum