Ethereum climbed 5% on Monday to trade at roughly $1,760, pushing above the $1,700 mark that had acted as a psychological floor. But the rally is already bumping into a resistance band from $1,715 to $1,740 — a zone traders are watching closely for a decisive close on meaningful volume. If ETH can break through, short-term models point to a mid-June target around $1,840.
Ethereum's next test
Support for ETH is clustered between $1,600 and $1,665, with the strongest floor at $1,640.02 and a key level at $1,665. The current move above $1,700 is a start, but ETH still sits below its 200-week simple moving average — a line that historically separates accumulation floors from genuine bull-market re-entries. Institutional appetite for the debasement trade has kept crypto broadly bid, but ETH has been an underperformer relative to bitcoin this cycle. On the bright side, staking-related sell pressure on ETH has eased recently, removing one headwind.
Tom Lee's buying spree
Tom Lee has been aggressively buying Bitmine tokens and is now approaching a 5% supply target. His buying spree may end soon, which would remove a support defender for ETH. The timing isn't great — with ETH trying to hold its gains, a sudden drop in buying pressure could test the lower support zone.
LiquidChain presale passes $840k
Meanwhile, LiquidChain — a Layer 3 infrastructure protocol that fuses liquidity from Bitcoin, Ethereum, and Solana via a Unified Liquidity Layer and Deploy-Once Architecture — continues its presale. Tokens are priced at $0.0147 each, and the project has raised $840,000 to date. The presale is still early, and the funds raised so far suggest steady retail interest in the cross-chain liquidity concept.
The question for ETH now is whether it can close above $1,740 on decent volume in the coming sessions. That would open a path to the $1,840 area — and give bulls something to build on.
