ETH is trading around $2,475–$2,480, easing slightly after opening Tuesday at $2,482 — a pullback from Monday's high near $2,507 (ETH's best level since late January/early February).
What's driving it:
Riding the same macro tailwind as BTC: the U.S. Treasury's move to double its long-term bond buyback program, easing yields and boosting risk appetite
Growing optimism that crypto legislation will pass, following last week's White House meeting with Coinbase and Robinhood reps
A historic short squeeze earlier in the week (ETH jumped as much as 31% in a week from short liquidations), though spot demand has stayed somewhat tentative
Key levels to watch:
$2,500 — the level ETH keeps testing and getting rejected at; a decisive close above it would confirm the breakout is being absorbed
Support: $2,356, then the 200-day EMA near $2,136 — a break below there would call the rally into question
RSI has been running hot (near 78), so some cooling off or consolidation wouldn't be surprising even in an intact uptrend
