Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
ETH 
WBTC Ethereum breaks through the downtrend line
Ethereum recently broke through the downtrend line that has suppressed prices for a long time, and its technical aspects have been significantly enhanced. As buying pressure rises and large transactions appear in Whale Wallet, investors 'focus has shifted back to Ethereum. Analysts believe that if key support levels are held, Ethereum prices are expected to challenge the $2,800 level again in the future.
As of press time, Ethereum was trading at US$1,870, with 24-hour trading volume reaching US$4.4 billion, and a market value of US$225.5 billion. Cryptocurrency analyst Gerla pointed out that Ethereum broke through the insurmountable downtrend line for months and formed an important technological breakthrough. He believes this trend shows that selling pressure is weakening and buyers are regaining control of the situation.
In technical analysis, the trend line that previously served as a strong resistance has transformed into a key support level after the breakthrough. Analysts said that if Ethereum can stabilize above this level, the upward momentum is expected to increase. In this context, it is expected that the intermediate resistance will be broken first in the short term and then re-challenged the US$2,800 mark.
Gerla also pointed out that Ethereum broke the long-term downward trend, which means a significant improvement in technology and investor confidence is expected to pick up again.
Whales continue to increase their holdings in Ethereum
While the technical aspects of Ethereum are improving, on-chain data is also attracting attention. According to data released by Lookonchain, wallet with address 0x2684 recently purchased 7,919.5 Ethereum pieces, with a transaction value of approximately US$14.89 million. This is the latest part of the continued large-scale increase in holdings in the past few weeks.
Data shows that the wallet recently completed a purchase of 7,919.5 Ethereum units, worth approximately US$14.89 million. Since June 30, the wallet has increased its holdings of 74,265 Ethereum units, with an average cost of US$1,771. In addition, the wallet also holds approximately 1,050 WBTC.
These data show that interest in Ethereum remains strong among large investors. Despite the positive signals from the technical side, analysts still stressed the need for caution. Whether Ethereum can transform the breakthrough trend line into effective support is crucial to the continuation of the rising market.
Evaluation
Ethereum has broken through the long-term downward trend line and crossed an important threshold at the technical level. Multimillion-dollar buying behavior in whale wallets also provided support for rising expectations. However, for this positive trend to continue, the trend line after the breakthrough needs to play a strong supporting role, and the buying volume needs to continue to expand. If these conditions are met, the analyst target of $2,800 will become a strong expectation again.
