Ethereum has rebounded above $1,700 as easing geopolitical tensions and renewed whale accumulation raise hopes that the second-largest cryptocurrency could break out of its multi-week bearish structure. Summary Ethereum climbed nearly 4% above $1,720 as easing geopolitical tensions and whale accumulation boosted market sentiment. A breakout from a symmetrical triangle and improving momentum indicators have placed the $1,850-$1,900 resistance zone in focus. Persistent ETF outflows and weakening Ethereum tokenomics remain key risks despite the recent recovery. According to data from crypto.news, Ethereum (ETH) climbed nearly 4% on June 15 to trade above $1,720 as oil prices retreated following the reopening of the Strait of Hormuz, reducing immediate inflation concerns that had weighed on risk assets. The rebound comes after weeks of sustained selling pressure that dragged ETH from above $2,000 earlier this month to a local low near $1,510. Ethereum’s rebound today came alongside Bitcoin’s roughly 3% gain and a rebound in technology stocks, helping Ethereum recover from last week’s sell-off and reclaim a key psychological level. ETH also benefited from renewed whale accumulation. According to Lookonchain, a whale wallet purchased another 5,818 ETH worth roughly $10 million, extending a series of recent buying transactions. However, not all market participants have shared the renewed optimism. SosoValue data shows spot Ethereum ETFs have now recorded five consecutive weeks of net outflows, with nearly $900 million leaving the funds during that period. The persistent withdrawals suggest many institutional investors remain cautious despite the recent recovery. Source: SoSoValue Additional commentary from market participants suggests selling pressure may be easing. According to Whale Factor, “the market is running out of active sellers,” noting that outflows from Bitcoin and Ethereum investment products fell sharply compared with the previous week. Ethereum has broken above short-term resistance On the four-hour chart, Ethereum has broken out of a symmetrical triangle that had been forming since the June 6 low near $1,510. The breakout pushed price above the triangle’s upper trendline and back above the $1,700 region, while the Supertrend indicator flipped bullish with support near $1,658. Ethereum price has broken out of a symmetrical triangle pattern on the 4-hour chart — June 15 | Source: crypto.news Momentum indicators have also improved. On the daily chart, the RSI has recovered from deeply oversold territory and climbed toward 37, while the MACD histogram has turned positive for the first time in several sessions. ETH price has also reclaimed the 0.786 Fibonacci retracement level near $1,707, measured from the June decline between $2,426 and $1,511. Despite the short-term breakout, the daily chart shows Ethereum still trading within a larger bearish flag that formed after the early June decline. ETH price is currently testing the pattern’s upper boundary near the $1,750-$1,800 region, an area that could determine whether the recent recovery develops into a broader trend reversal. Ethereum price has formed a bearish flag pattern on the daily chart — June 15 | Source: crypto.news A decisive move above that level could invalidate the bearish setup and open the door toward the $1,850-$1,900 area, while rejection would keep the flag structure intact and raise the risk of another leg lower. Commenting on the current ETH setup, crypto analyst Ted Pillows argued that Ethereum has already broken its short-term downtrend. “$ETH has broken out of its short-term downtrend. If Ethereum breaks above the $1,700 level, it could rally towards the $1,850-$1,900 level.” The next major technical hurdle sits around $1,860, which aligns with the 0.618 Fibonacci retracement level. A successful move through that area would place the psychological $1,900 level back into focus and potentially challenge the descending trendline that has capped rallies since May. Derivatives markets also show traders re-entering bullish positions. Funding rates have returned to positive territory after spending much of the recent decline below neutral levels, suggesting leveraged traders are once again paying to maintain long exposure. Liquidation clusters create both upside targets and downside risks CoinGlass liquidation data reveals a dense concentration of short liquidations between $1,740 and $1,760, with another sizeable cluster extending toward $1,790. A push into those levels could force additional short covering and accelerate price movement higher. Ethereum liquidation heatmap | Source: CoinGlass Below the market, the largest liquidity pocket remains near $1,650. The heatmap shows a substantial concentration of leveraged positions at that level, making it an important support zone for bulls. Loss of that area could expose Ethereum to another sweep toward the whale liquidation region around $1,420. Fundamental risks also remain unresolved. Ethereum continues to face pressure from weakening token burn dynamics as Layer-2 networks capture transaction activity while generating fewer fees for the main chain. At the same time, ETF outflows and capital rotation into artificial intelligence equities have limited demand for large-cap altcoins throughout 2026. While Ethereum has secured a technical breakout and attracted fresh whale buying, a full recovery will likely depend on bulls defending the $1,650-$1,700 range and breaking through the heavy resistance cluster between $1,850 and $1,900. 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