Ethereum holds firm above $1,770: Can bulls push to $2,030 next?

Ethereum’s on-chain support and rising sentiment suggested a potential bullish continuation. Leverage and resistance at $1,867 created volatility risks amid breakout attempts. Ethereum [ETH] continues to hold steady above the $1,770 support zone, which hosts over 4.56 million addresses, according to IntoTheBlock. At press time, Ethereum traded at $1,829.19, up 0.09% in the last 24 hours. Both crowd sentiment (0.71) and smart money sentiment (0.18) remain bullish, as per Market Prophit data. These sentiment readings, paired with strong historical buying interest at $1,770, suggest ETH could be gearing up for a breakout attempt if momentum sustains and macro pressures remain limited. New wallet growth reinforces Ethereum’s strong network activity Ethereum’s network fundamentals reflect renewed on-chain engagement. New addresses spiked 79.09% over the last seven days, while active addresses increased 11.41%. Furthermore, zero balance addresses surged 105.49%, likely signaling user experimentation, wallet cleanup, or lost keys. These figures point to continued adoption and expansion despite recent price swings. Therefore, rising address metrics may serve as a leading indicator of future demand, reinforcing the view that the broader Ethereum ecosystem remains fundamentally healthy and expanding under the surface. Source: IntoTheBlock Liquidity builds as exchange reserves tick higher Ethereum exchange reserves have increased slightly to $36.07 billion, reflecting a 1.16% rise. Typically, higher reserves suggest that more ETH is being held on centralized exchanges, which can indicate potential sell-side pressure. However, this shift may also signal traders preparing for volatility or adjusting positions ahead of expected market movements. Currently, Ethereum is trading at $1,830, positioned between key leverage clusters. The Binance liquidation map shows heavy short liquidations below $1,800 and significant long exposures at $1,850, especially in 50x and 100x leverage zones. This setup creates a coiled spring effect, where a sharp move could trigger cascading liquidations. If ETH breaks above $1,850, short liquidations may accelerate momentum. Conversely, if the price drops, long unwinds could amplify losses. The market is at a critical inflection point, and upcoming movements may dictate Ethereum’s next major price shift. Source: Coinglass Leverage leans bullish, but risks of a shakeout persist Data from Binance shows that 64.67% of traders are currently long on ETH, pushing the long/short ratio to 1.83. This sustained bullish bias underscores trader confidence but also increases the risk of a shakeout if price action turns against the crowd. In such crowded trades, any unexpected pullback below key support could cause a long squeeze. However, so far, the bias remains consistent with other bullish metrics, signaling that most traders still expect continuation rather than reversal. Source: Coinglass Ethereum gears up for a breakout, but resistance holds firm Ethereum’s price structure remains in a tight range between the $1,770 support and the $1,867 resistance. The $1,867 mark has acted as a ceiling in recent attempts to rally. A clean break above it could unlock the 1.618 Fib extension target at $2,030. However, caution is warranted as the stochastic RSI hovers around 96, signaling overbought conditions. Still, the broader structure of higher lows and horizontal resistance creates a classic breakout setup that traders continue to monitor closely. Source: TradingView Ultimately, Ethereum’s fundamentals and sentiment remain aligned for a bullish continuation. The sustained support at $1,770 reinforces the bulls’ control, especially with growing network activity and a strong long/short ratio. However, resistance at $1,867 remains a key barrier that must be overcome to validate the next leg upward. If bulls manage to break through this level with volume, Ethereum could accelerate toward the $2,030 target and trigger a broader momentum shift in the market. Source: https://ambcrypto.com/ethereum-holds-firm-above-1770-can-bulls-push-to-2030-next/