ETH (Ethereum) rose 0.97% in the last 24 hours.

Gate News Bot News, July 4, according to CoinMarketCap data, as of the time of writing, ETH (Ethereum) is currently priced at $2593.35, with a 0.97% rise in the last 24 hours, reaching a high of $2635.19 and a low of $2378.39. The current market capitalization is approximately $31.306 billion, an increase of $2.998 billion compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It provides infrastructure for decentralized applications (DApps), supporting various application scenarios such as smart contracts, stablecoins, DeFi, and NFTs. Ethereum is committed to building a fairer and more open financial system and internet, offering users data privacy protection and asset ownership. As the center of blockchain innovation, Ethereum attracts a large number of developers to build applications in its ecosystem.

Important news about ETH recently:

1️⃣ ETH breaks through the key resistance level of 2600 dollars ETH price surged over 7% from the intraday low, reaching the 2550 USD mark, successfully breaking through the key resistance level. This breakthrough is the result of structural drivers, with ETH strongly rebounding from the 2380 USD support level, climbing all the way to the 2585 USD range, setting a new two-week high. Analysis shows that if this price level can be maintained, it will create conditions for the next round of short squeeze, with the ETH price target expected to look up to the 2800 USD resistance level.

2️⃣ Institutional investors continue to increase their holdings of ETH SharpLink Gaming has been continuously buying ETH on a large scale, announcing yesterday that it purchased 198,167 ETH at an average price of about $2608 (approximately $517 million). Today, it additionally bought 2738 ETH through OTC (approximately $7.09 million). Meanwhile, BlackRock has increased its ETH-related exposure on 29 out of the last 30 trading days. This indicates that institutional investors are entering the market on a large scale, building momentum for a subsequent price rise.

3️⃣ ETH on-chain data hits a new all-time high On June, ETH chain data shows a strong accumulation trend. The cumulative address holding reached 22.7465M ETH, an increase of 35.97% compared to the beginning of the month, with a single-month purchase volume reaching a historical high of 6.0184M ETH. At the same time, Liquid Staking scale surpassed 35.56M ETH, setting a new historical record with a monthly growth of 2.83%. These data indicate that, although the price has not met expectations, the market accumulation trend is evident, which may suggest that ETH is about to迎来上涨行情.

From a technical perspective, a short-term contracting triangle pattern has formed on the ETH/USD hourly chart, with support at $2560. The initial resistance level above is around $2615, and breaking this level could drive the ETH price further up.

This message does not constitute investment advice; investors should be aware of market volatility risks.