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Ether tests $1,950 as leveraged shorts face $62 million liquidations

The move follows a 29% jump from Ether’s June 26 low near $1,500, while onchain activity remains soft with weekly DApp revenue at $9.8 million.

Reported · Written up by our desk · Market Structure

Ether tested the $1,950 level for the first time in seven weeks on Tuesday, as the rebound triggered $62 million in liquidations across leveraged bearish positions, according to Cointelegraph.

The price action marked a 29% gain from Ether’s $1,500 low on June 26, alongside a broader risk-on tone that also supported Bitcoin above $66,500, Cointelegraph reported.

Cointelegraph cited onchain headwinds that have not fully reversed, including Ethereum decentralized application weekly revenue falling to the lowest level since September 2024 at $9.8 million.

Still, Cointelegraph pointed to factors that could help ETH push higher, including rising staking demand and upcoming earnings from Alphabet, whose cloud services growth expectations are tied to AI investment momentum.

Latest closeBitcoin $66,280.00 ▲1.6%|Ethereum $1,921.66 ▲0.9%

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