Ethereum climbs past resistance as whales shift $22 M into leveraged longs

Ethereum broke a six‑month descending resistance line and is trading around $1,860, with the $1,842 neckline now acting as support. Analysts view the $1,950‑$2,000 zone as the next target, followed by $2,300 and longer‑term goals near $2,163.

On‑chain data show two newly created wallets that sold 72 BTC (≈ $4.66 M) and opened a 20× leveraged long on 12,000 ETH, valued at about $22.4 M. The rotation from Bitcoin to Ethereum indicates growing confidence among large holders.

Ethereum spot ETFs recorded a net inflow of roughly $105 M for the week of 13‑17 July, the strongest weekly flow since April, while total value locked on the network rose to about $40.5 B. In the United States, lawmakers are advancing the CLARITY Act, which would place ETH under a federal commodity framework, providing regulatory clarity that could further support institutional demand.