$ETH punched through $2,400 — a 26% move in 72 hours.
This kind of velocity usually means either:
1. Structural buying from larger players repositioning
2. Liquidation cascades forcing shorts to cover
3. Macro tailwinds (rate expectations, dollar weakness, or renewed crypto inflows)
The question isn't whether it can hold $2,400 — it's whether this is the start of a retest toward $2,800–$3,000 or just a sharp relief rally before another consolidation phase.
Watch funding rates and open interest. If both stay elevated without a pullback, the next leg could be fast.
This kind of velocity usually means either:
1. Structural buying from larger players repositioning
2. Liquidation cascades forcing shorts to cover
3. Macro tailwinds (rate expectations, dollar weakness, or renewed crypto inflows)
The question isn't whether it can hold $2,400 — it's whether this is the start of a retest toward $2,800–$3,000 or just a sharp relief rally before another consolidation phase.
Watch funding rates and open interest. If both stay elevated without a pullback, the next leg could be fast.