As of July 3, 2026, the price of Ethereum (ETH) is approximately in the $1,709 - $1,715 range.

· 24-hour increase: approximately 4.8% - 6.6%
· This week's increase: approximately 9.7% - 12.1%

🚀 Factors Driving the Rise

· Short Squeeze: In the past 24 hours, liquidations across the entire network totaled approximately $602 million, with shorts accounting for the majority. The liquidation of Ethereum shorts alone reached $157 million, forcing a large number of short sellers to buy back and close positions, resulting in a cascading rally.
· ETF Inflows: The U.S. Ethereum spot ETF saw a net inflow of $29.08 million yesterday, with BlackRock's ETHA recording a net inflow of $29.74 million, ending several consecutive weeks of outflows.
· Macro Tailwinds: The U.S. June non-farm payroll data came in well below expectations (57k new jobs vs. an expected 110k), cooling market expectations for Fed rate hikes and alleviating some of the macro pressure that had been suppressing the crypto market.

⚡ Key Price Levels and Short-Term Outlook

· Resistance above: **$1,754** (first resistance); **$1,795 - $1,826** (core battleground, near the 50-day moving average of $1,826 and the upper Bollinger Band of $1,823).
· Support below: $1,684** (day's long-short dividing line); **$1,644 (pivot support); $1,573** (strong support); **$1,522 (lower Bollinger Band, final defense line).

Short-term risk: The current rebound is primarily driven by short covering, rather than a large influx of new capital. Open interest (OI) decreased by 8.22% in the past 24 hours, indicating that the upward momentum may not be stable. #ETH突破1700