---
title: "Ethereum Price Jumps 5% Above $1,700 as Bitcoin Reclaims $60K — Here Are the Next Targets"
url: https://thecoingazette.com/ethereum-price-jumps-5-above-1700-as-bitcoin-reclaims-60k-a%c2%80%c2%94-here-are-the-next-targets/
date: 2026-07-03
modified: 2026-07-03
author: "Coin Gazette Editorial"
description: "Ethereum has staged its strongest 24-hour move in weeks, with $ETH jumping more than 5% to reclaim the $1,700 level for the first time since the brutal June selloff. The..."
categories:
  - "Ethereum"
image: https://thecoingazette.com/wp-content/uploads/2026/07/ethereum-price-jumps-5-above-1700-as-bitcoin-reclaims-60k-ac280c294-here-are-the-next-targets-1400x340.png
word_count: 656
---

# Ethereum Price Jumps 5% Above $1,700 as Bitcoin Reclaims $60K — Here Are the Next Targets

Ethereum has staged its strongest 24-hour move in weeks, with [$ETH](https://cryptoticker.io/en/token/price/ETH-USD/) jumping more than 5% to reclaim the $1,700 level for the first time since the brutal June selloff. The rally came in lockstep with $BTC, which pushed back above the psychologically important $60,000 mark, dragging the broader market higher with it.

![ETHUSD_2026-07-03_13-32-00.png](https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/ETHUSD_2026_07_03_13_32_00_c881f91f5d.png)*Ethereum price in USD*The move looks macro-driven rather than Ethereum-specific. A dovish shift in Fed messaging around cooling inflation risks lit the match, and the sharpness of the bounce off multi-year lows carries the fingerprint of a short squeeze after positioning turned heavily one-sided to the downside through June. [$Bitcoin](https://cryptoticker.io/en/token/price/BTC-USD/) holding above $60K is the cover that gives $ETH room to grind higher — lose that, and the tailwind evaporates fast.

## Why did the Ethereum price jump above $1,700?
The catalyst was broad risk appetite rather than any change in Ethereum's fundamentals. Easier-sounding [Fed commentary](https://www.federalreserve.gov/newsevents.htm) on inflation prompted a rotation back into risk assets, and the most beaten-down names bounced hardest because they carried the heaviest short interest. $ETH had bled to multi-year lows in June with negative funding across major venues, so a bullish macro headline into that setup was exactly the kind of spark needed to force covering.

There's a fundamental undercurrent too. ETH spot ETF inflows briefly outpaced Bitcoin ETF flows for two consecutive sessions last week, a sign that institutional sentiment toward Ethereum is quietly turning. That relative strength is what separates this bounce from the failed reclaims seen earlier in the downtrend.

## Ethereum Price Analysis: Why is ETH Coin UP
Looking at the 2-hour chart, $ETH has cleanly broken out of the $1,540–$1,600 consolidation range that contained price for most of late June. That range acted as a battleground for nearly two weeks, and the decisive break above $1,600 — followed by a push through $1,700 — flips both of those levels into potential support.

![ETHUSD_2026-07-03_13-21-30.png](https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/ETHUSD_2026_07_03_13_21_30_9bae2edeb3.png)

Key areas on the chart:

- **$1,800 (green line):** The next major overhead resistance and the primary upside target. This is the level bulls need to clear to confirm a full trend reversal.- **$1,700 (psychological):** Freshly reclaimed. Must now hold as support to keep the structure bullish.- **$1,600 (yellow line):** The pivot that flipped from resistance to support. Losing it would signal the breakout is failing.- **$1,540 (yellow line):** The lower boundary of the old range and the last line of defense before a retest of the June lows.Momentum is stretched. The RSI (14) is reading around 74 — firmly in overbought territory — which means a short-term cooldown or sideways digestion near $1,700–$1,720 would be healthy rather than alarming. Overbought readings can persist in strong trends, but they raise the odds of a pullback to retest reclaimed support before the next leg.

## What are the next Ethereum price targets?
- **Bullish scenario:** If $ETH holds $1,700 and $BTC stays firm above $60K, the immediate target is the **$1,800** resistance line. A clean break and close above $1,800 would open the door toward the **$1,850–$1,900** zone, with momentum traders eyeing a longer-term push back toward $2,000+ if ETF inflows keep resuming. Standard Chartered has floated an ambitious $4,000 year-end target on a rising ETH/BTC ratio, though that requires sustained follow-through.- **Bearish scenario:** A rejection at $1,700–$1,720 with overbought RSI unwinding could send price back to retest **$1,600**. Losing $1,600 puts **$1,540** in play, and a break below that risks reopening the June downtrend. Traders should also note a heavy token unlock schedule across July that could inject volatility.The line in the sand is simple: $ETH holding $1,600 as support with Bitcoin above $60K keeps the bullish case alive. Break either, and this reads as an oversold relief rally rather than a genuine trend reversal.

## Is now a good time to trade Ethereum?
Momentum is clearly with the bulls in the short term, but the rally is stretched and macro-dependent. The setup favors patient entries on a pullback to reclaimed support rather than chasing an overbought breakout. As always, [position sizing and risk management](https://cryptoticker.io/en/how-to-become-a-successful-trader/) matter more than the direction of any single candle.