Ethereum Breaks $1.9K Resistance Amid Broader Crypto Bull Run

Ether (ETH) broke through the $1,950 resistance mark on Tuesday, its highest level in seven weeks.

This price gain triggered $62 million in liquidations across leveraged bearish positions, delivering 29% gains from the $1,500 low on June 26.

Ether's price largely tracked the overall crypto market trend, which shifted to positive momentum in July. The move aligned with the broader risk-on mood that drove Bitcoin (BTC) above $66,500.

The Ethereum network saw record high staking at 34% of total supply, reducing sell pressure and boosting trader expectations for price gains.