Ethereum Breaks Above $1,900 on Technical Breakout and Whale Buying

Ethereum has surged above $1,900 after a technical breakout and significant whale buying activity. The asset broke through the resistance area of $1,894.89 and reached as high as $1,923.82.

The surge was also fueled by heavy short liquidations, with over $112.5 million in positions closed over 24 hours. Shorts accounted for most of the losses, extending the advance as bearish traders were forced to close their positions.

Additionally, three new wallets withdrew 30,000 ETH from Coinbase Prime, worth approximately $57.7 million. This withdrawal reduces the amount immediately available for sale but does not necessarily indicate that holders will keep the assets long-term or continue buying.