Ethereum (ETH) Price: What the $1,700 Support Level Means for ETH Right Now

TLDR

• ETH is trading near $1,731, close to levels last seen in March 2021
• Analyst Ali Martinez says $1,060 is the key support level to watch if ETH breaks down
• Upside targets stand at $2,850 and $4,630, with $1,960 as the first major resistance to clear
• Binance exchange outflows spiked in June 2026, suggesting some holders moved ETH off exchanges
• Institutional buyer Bitmine now holds 5.54 million ETH, around 4.58% of the total supply

Ethereum has spent five years going nowhere in price terms. That fact is now front and center for traders watching the $1,700 zone.

ETH was trading at $1,731 at the time of writing, up 0.48% over 24 hours. The daily range sat between $1,708 and $1,742. Despite years of major bull runs and bear markets, the coin is nearly flat from where it stood in March 2021.

Analyst Ali Martinez put it plainly: “A $10,000 investment made five years ago would still be worth approximately $10,000 today.” He added that despite “severe volatility, explosive bull runs, and deep bear-market liquidations, ETH has posted zero net gains from that baseline.”

That context shapes how traders are approaching the current setup. They are focused on levels, not stories.

Trader Daan Crypto flagged the $1,750 level as pivotal for short-term direction. Writing about $ETH on X, he said: “That $1750 level is pivotal for me to determine the short term strength. If price can’t manage to retake it, then that’d be a sign of weakness.” He noted ETH had failed to hold a retest after briefly breaking above the February highs, but was trying again.

Key Levels to Watch

The chart shows ETH sitting below a visible gap near $1,709.50. A pullback to fill that gap, followed by a hold, could give bulls a cleaner base. A break below $1,700 would put $1,650 in focus next.

On the upside, $1,960 is the first major resistance level on the monthly chart. ETH has not closed above it. A move through $1,960 would open the path toward $2,850. After that, $3,740 and $4,630 are the next targets. Analyst Trader Symba’s long-term chart shows a $10,000 projection if ETH eventually breaks above the $4,862 level.

The MACD histogram is positive at 21.25, and the MACD line has crossed above the signal line. However, both remain below zero. The RSI sits at 40.45, above its moving average but still under the neutral 50 mark. Neither indicator confirms a full reversal yet.

Institutional Buying and Exchange Outflows

On-chain data shows exchange outflows from Binance spiked in June 2026 while Ethereum was trading near $1,710. CryptoQuant analyst Rei Researcher reported the move, noting a large amount of ETH left the exchange. Fewer coins on exchanges can reduce near-term selling pressure.

Separately, institutional buyer Bitmine has now acquired over 1.4 million ETH since December 2025. Its total ETH reserve stands at 5.54 million ETH, worth around $9.40 billion. That represents 4.58% of the circulating supply, and the firm is 91.7% of the way toward its stated goal of owning 5%.

Ethereum’s market cap remains above $200 billion, keeping it among the largest crypto assets by size.

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