Key Points
- Ethereum rebounds 13% to $1,731 after weak U.S. jobs data pressures dollar.
- $1,800 resistance seen as pivotal level for confirming sustained recovery.
Ethereum (ETH) is trading near $1,731 following a 13% rebound from the $1,500 support zone.
Market participants are assessing whether $1,700 can hold as durable support or if further downside remains possible.
A weaker-than-expected June Non-Farm Payrolls report, showing 57,000 new jobs versus forecasts above 110,000, pressured the U.S. Dollar Index.
The softer dollar provided a tailwind for risk assets, including ETH.
Can Ethereum Clear and Sustain $1,800?
ETH reached an intraday high of $1,786 during the recent breakout, marking its strongest single-session move in weeks.
The $1,780–$1,820 range now stands as immediate resistance, a zone that has limited prior recovery attempts.
Analysts note ETH is trading above $1,700 and its 100-hour simple moving average, while the Relative Strength Index remains above 50.
A bullish divergence on the four-hour RSI preceded the latest upward move, signaling weakening downside momentum.
Immediate support is seen between $1,650 and $1,675, with stronger demand previously emerging around $1,575–$1,600.
These levels are being monitored in case of renewed selling pressure.
A recent institutional outlook projected an ETH price target of $2,240, lower than earlier forecasts but still above current spot levels.
The estimate suggests expectations for recovery remain intact despite broader market volatility.
Alternative Infrastructure Projects Draw Attention
Despite the rebound, ETH remains significantly below highs seen in previous cycles above $4,000.
Some traders are rotating toward early-stage crypto infrastructure projects seeking higher growth potential.
One such project, Bitcoin Hyper, presents itself as a Layer 2 network built on Bitcoin (BTC) with Solana Virtual Machine integration.
The initiative aims to address Bitcoin’s transaction speed and fee limitations while retaining its core security framework.
The project reports raising over $32 million in presale funding, with its token priced at $0.0136825 and staking incentives available.
A decentralized canonical bridge is proposed to facilitate BTC transfers between layers.
Developers claim the integration targets improved latency compared to base-layer Bitcoin, though execution risks remain associated with early-stage infrastructure projects.
Prospective participants are encouraged to conduct independent research before engaging.
