#ETH突破1700 Ethereum (ETH) has indeed broken through the $1,700 mark. According to market data from July 3, 2026, its price is in the range of $1,699 to $1,710, with a daily gain of about 5.9%-6.3%, and a cumulative increase of nearly 10% over the past week. This performance also outperforms Bitcoin, which rose about 2.4% over the same period.

📈 Main Reasons for the Breakout
This breakout is mainly driven by two factors:

· Large-scale 'short squeeze': Due to the sudden market rally, a large number of bearish traders were forced to buy back to cover positions, further pushing up prices. On July 3 alone, crypto market short position liquidations reached $281 million, with Ethereum's liquidation volume ($157 million) even surpassing that of Bitcoin.
· Macro tailwinds: Weak US employment data dampened market expectations of another Fed rate hike, the US dollar weakened, and capital flowed into risk assets including cryptocurrencies.

🔮 What does the technical picture look like?

· Bullish in the short term but beware of resistance: The daily MACD indicator shows a 'golden cross' (bullish signal), and the rebound structure is temporarily intact. However, there is significant resistance in the $1,720–$1,750 zone, and whether it can hold remains to be seen.
· Key level reference: If it can hold support at $1,680–$1,695, it is likely to continue upward; if it falls below $1,680, it may retrace to the $1,650 area or even lower to the $1,620 zone.