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Ethereum jumps 5% reclaiming $1,650 amid $92M short squeeze and bullish technical signals.

Technical Signals
03 Jul 2026
Blockonomi
View Source
Bullish
Ethereum jumps 5% reclaiming $1,650 amid $92M short squeeze and bullish technical signals.

Ethereum surged over 5% in 24 hours, retaking the $1,650 level after a $92 million short squeeze helped drive the price recovery. Despite this rally, institutional interest appears weak with $358.3 million in spot ETF outflows since mid-June. A significant monthly buy signal from the TD Sequential indicator suggests potential for strong gains, but analysts warn ETH must break above $1,700-$1,750 to sustain upward momentum or risk falling back to yearly lows. Large investors are reportedly increasing holdings, signaling confidence at current prices.

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