The significance of ETH1700 breakthrough:



· 1700 is the starting point of the crash on June 5th, and also the core resistance zone that was tested multiple times previously without success. Its breakthrough indicates that the bulls have fully absorbed the trapped selling pressure in this area;
· Combined with multiple false breakouts at 1635 and the breakout confirmation at 1655, the current structure belongs to the classic bullish pattern of "false breakout → genuine breakout → accelerated upward movement";
· The 1680-1700 range has shifted from resistance to a new support zone. As long as this area holds, the rebound trend will continue.

Key levels:

Position Price Significance
Pullback support 1700-1705 USD The first support after the breakout. If the pullback does not break below, the bulls are very strong
Strong support 1680-1690 USD Previous high turned support, the dividing line between bulls and bears
Short-term target 1735 USD Upper boundary of the previous dense trading zone
Next resistance 1750 USD Intermediate platform before the crash
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