The post Ethereum Maintains $1,770 Support Amid Positive Sentiment and Network Activity, Eyeing Potential Breakout at $1,867 appeared on BitcoinEthereumNews.com.

Ethereum’s resilience at $1,770 support reflects growing bullish sentiment and network activity, signaling potential for a significant price breakout. The sharp rise in new wallet creation suggests that user engagement and adoption are on the rise, reinforcing the bullish outlook. “Ethereum’s market dynamics present a classic breakout setup,” stated a recent analysis by COINOTAG, emphasizing the technical factors at play. Ethereum holds key support at $1,770 amid rising sentiment and network activity, with resistance at $1,867 posing vital challenges for future gains. New wallet growth reinforces Ethereum’s strong network activity Ethereum’s network fundamentals reflect renewed on-chain engagement. New addresses spiked 79.09% over the last seven days, while active addresses increased by 11.41%. Furthermore, zero balance addresses surged 105.49%, likely signaling user experimentation, wallet cleanup, or lost keys. These figures point to continued adoption and expansion despite recent price swings. Therefore, rising address metrics may serve as a leading indicator of future demand, reinforcing the view that the broader Ethereum ecosystem remains fundamentally healthy and expanding under the surface. Source: IntoTheBlock Liquidity builds as exchange reserves tick higher Ethereum exchange reserves have increased slightly to $36.07 billion, reflecting a 1.16% rise. Typically, higher reserves suggest that more ETH is being held on centralized exchanges, which can indicate potential sell-side pressure. However, this shift may also signal traders preparing for volatility or adjusting positions ahead of expected market movements. Currently, 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, especially 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, if the price drops, long unwinds could amplify losses. The market is at…

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Filed under: News - @ May 5, 2025 2:07 am