Crypto Express

07/17 02:46

Assessing if Ethereum could flip $3K into support

Ethereum is showing structural strength, with a confirmed higher low on both USD and ETH/BTC pairs. Smart money is rotating in, and growing market share, all point to ETH attracting its flow.

Zooming out, Ethereum’s [ETH] 20% weekly rally fits right into the broader risk-on tone, with Bitcoin [BTC] printing three straight green weeks.

That strength helped ETH break through two major resistance zones with ease. In fact, since the mid-June low, ETH has rebounded over 50%, double the move BTC managed in the same window. 

However, zooming in, ETH’s 6% daily pump (the strongest among top majors) highlights a growing divergence between the two.

Reinforcing this, the ETH/BTC pair just printed its first higher low since 2023.

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