ETH Breaks $1,800: Why Ethereum Price is Up Today?

Ethereum, the second-largest cryptocurrency by market cap, is showing signs of life again. After slipping below $1,400 earlier this month, ETH has now bounced back above $1,800 — its highest level in three weeks. The sharp recovery has caught the market’s attention, especially at a time when sentiment has been shaky and volatility remains high.

Can this momentum last?

Let’s break down what’s really going on behind the scenes.

Ethereum Rises as Short Bets Drop

One key reason for Ethereum’s recent rise is the sharp drop in short positions. On the CME (Chicago Mercantile Exchange), open interest in Ethereum shorts has fallen below $500 million — the lowest it’s been in 2025.

Not long ago, many traders were profiting from the gap between Ethereum’s futures and spot price. That trade became popular when market volatility picked up, especially during the fallout from Trump’s tariff changes. But as the market cooled and that price gap narrowed, the strategy became less profitable. As a result, many traders closed their positions and sold off their Ethereum, pushing the price lower.

Now, with fewer traders betting against the asset and less selling pressure overall, ETH has more room to recover.

Institutions Are Buying Ethereum Again

Ethereum’s recovery also got a boost from institutional investors. After more than a week of outflows, ETH-related exchange-traded funds (ETFs) have finally seen a turnaround. Inflows totaled $38.8 million, signaling renewed interest from bigger players.

Fidelity’s FETH led the charge with $32.7 million in inflows, while Bitwise’s ETHW added another $6.1 million. This return of institutional capital is often seen as a bullish sign, suggesting more upside could be ahead.

Bitcoin’s Rally is Lifting Ethereum Too

Let’s not forget Bitcoin’s influence. BTC just hit a seven-week high of $94,000, which naturally sent a wave of positive energy through the entire crypto market. As Bitcoin leads the way, Ethereum, the largest altcoin, is also benefiting from this surge.

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Ethereum Faces Little Resistance Ahead

On-chain data from IntoTheBlock shows that Ethereum doesn’t face major resistance in the short term. The biggest selling zone appears to be around $1,860, where some holders may look to take profits.

If ETH can break through that level, there may be little standing in the way of a move toward the $2,000 mark — a key psychological target for both traders and investors.

What to Watch If Ethereum Pulls Back

Of course, if Ethereum fails to hold above $1,800, a short-term pullback could follow. The first support zone lies near $1,765, with stronger support around $1,710.

How Ethereum performs over the next few days could be critical. If the current momentum holds, a run toward $2,000 looks increasingly possible. But if the price slips below support levels, a retest of recent lows may be back on the table.

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