Ethereum extended its recovery after breaking above the $1,894.89 resistance zone, accelerating toward $1,923.82 and drawing focus to the $1,940–$1,950 area. Lower-than-expected U.S. inflation boosted risk appetite, while the largest green volume spike on the chart confirmed stronger participation. The RSI held above 70, indicating sustained buyer momentum. Over $112.5 million in liquidations occurred in the past 24 hours, with $92.2 million in shorts. Whale accumulation also reinforced the move, as three new wallets withdrew 30,000 ETH worth $57.66 million from Coinbase Prime. Buyers now need to absorb profit-taking to turn the reclaimed resistance into lasting support.
Ethereum extended its recovery after buyers forced a decisive breakout above the $1,894.89 resistance zone. The recovery accelerated toward $1,923.82, bringing the $1,940–$1,950 resistance zone into focus.
Lower-than-expected U.S. inflation further strengthened the existing bullish momentum by improving appetite for risk assets. The breakout coincided with the largest green volume spike on the chart, confirming stronger participation behind the move.
Thereafter, trading activity eased as bulls lost steam, with the price consolidating beneath resistance instead of reversing sharply. The RSI held above 70, showing momentum remained firmly with buyers despite the brief pause.
This recovery implies bulls are attempting to establish $1,894.89 as new support, preserving the higher-high, higher-low structure.
Short liquidations fueled Ethereum’s price. The most significant level of leverage exists just above the present price at $1,950, marking a magnet for further upside. If buyers continue pushing higher, clearing that spot could trigger another wave of forced short liquidations, extending bullish momentum.
Over $112.5 million in liquidations occurred in the past 24 hours, including roughly $92.2 million in shorts against $20.4 million in longs. The price continues holding near $1,920 instead of surrendering recent gains.
Whales strengthened the breakout. Three newly created wallets withdrew 30,000 ETH, worth approximately $57.66 million, from Coinbase Prime in three separate 10,000 ETH transactions within hours. This shift suggests large investors are moving coins into private custody rather than leaving them for immediate sale.
Buyers must continue absorbing profit-taking if the reclaimed resistance is to become lasting support. Weakening spot participation could undermine recent gains despite continued whale buying.
Sustained buying pressure would strengthen Ethereum’s recovery and reinforce the market’s improving structure.
