Ethereum Skyrockets 30% in a Week: What Bulls Must Do Next

1 month ago 25

Rommie Analytics

With spot demand wrestling against heavy derivatives exposure, the next directional cue depends entirely on whether bulls can recapture that old ceiling.

Make no mistake, this price action goes far deeper than a simple technical rejection. U.S. spot ETF absorption and surging on-chain velocity are clashing with bloated futures leverage, setting up an explosive environment if $2,465 fails to hold.

ETH/USD daily chart: Ethereum briefly pierced the $2,466 Fibonacci high to tap $2,530 before sliding back beneath the breakout zone. Immediate downside support waits down near $2,270. Read Entire Article