Ethereum’s on-chain metrics and rising sentiment indicate a possible bullish continuation.\n\nLeverage and resistance at $1,867 introduce volatility risks during breakout attempts. Ethereum [ETH] remains stable above the $1,770 support level, which includes over 4.56 million addresses, as reported by IntoTheBlock. At the time of writing, Ethereum was trading at $1,829.19, with a 0.09% increase in the last 24 hours.\n\nCrowd sentiment (0.71) and smart money sentiment (0.18) remain positive, according to Market Prophit data. These sentiment indicators, combined with significant historical buying interest at $1,770, suggest that ETH might be preparing for a breakout if momentum persists and macroeconomic pressures remain minimal.\n\nNew wallet growth highlights Ethereum’s robust network activity. Over the past seven days, new addresses surged by 79.09%, while active addresses rose by 11.41%. Additionally, zero balance addresses increased by 105.49%, possibly indicating user experimentation, wallet cleanup, or lost keys. These figures suggest ongoing adoption and expansion despite recent price fluctuations. Rising address metrics may serve as an early indicator of future demand, reinforcing the view that the broader Ethereum ecosystem remains fundamentally healthy and expanding.\n\nEthereum exchange reserves have slightly increased to $36.07 billion, reflecting a 1.16% rise. Higher reserves typically mean more ETH is being held on centralized exchanges, which could indicate potential sell-side pressure. However, this shift might also signal traders preparing for volatility or adjusting positions ahead of anticipated market movements.\n\nCurrently, Ethereum is trading at $1,830, positioned between key leverage clusters. The Binance liquidation map shows heavy short liquidations below $1,800 and significant long exposures at $1,850, particularly in 50x and 100x leverage zones. This setup creates a coiled spring effect, where a sharp move could trigger cascading liquidations. If ETH breaks above $1,850, short liquidations may accelerate momentum. Conversely, a price drop could lead to amplified losses from long unwinds.\n\nThe market is at a critical juncture, and upcoming movements may determine Ethereum’s next major price shift. Data from Binance reveals that 64.67% of traders are currently long on ETH, pushing the long/short ratio to 1.83. This sustained bullish bias reflects trader confidence but also increases the risk of a shakeout if price action turns against the crowd. In crowded trades, any unexpected pullback below key support could cause a long squeeze.\n\nEthereum’s price structure remains within a tight range between $1,770 support and $1,867 resistance. Breaking cleanly above $1,867 could unlock the 1.618 Fib extension target at $2,030. However, caution is advised as the stochastic RSI hovers around 96, signaling overbought conditions.\n\nIn summary, Ethereum’s fundamentals and sentiment align for a bullish continuation. Sustained support at $1,770 reinforces the bulls’ control, especially with growing network activity and a strong long/short ratio. However, overcoming resistance at $1,867 is crucial for validating the next upward leg. If bulls succeed with volume, Ethereum could accelerate toward the $2,030 target, triggering a broader momentum shift in the market.\n— new from AMBCrypto
