Ethereum Price Explodes 9.5% and Stops 1% Short of THE Level

Ethereum has just delivered its strongest daily gain of the summer, jumping 9.51% to $2,098.70 after opening at $1,916.50 and running as high as $2,112. It outperformed Bitcoin by a wide margin, and it is now sitting 1.13% below the single most important level on its chart.Ethereum price today in USDWhy Ethereum Price is up todaySame trigger as the rest of the market: the US Treasury announced it will at least double its long-dated bond buybacks, pushing yields down and the dollar lower in a move analysts labelled "QE Lite." Easier financial conditions send capital back toward risk.But $Ethereum did not just participate, it led. ETH gained 9.51% while Bitcoin gained 6.20%. That is the point of this article, because in crypto, who leads tells you what kind of move this is.The setup nobody was watchingEthereum spent seven weeks doing almost nothing. From early July onward, price ground sideways between roughly $1,800 and $1,950, never breaking out, never breaking down. The daily RSI moving average flatlined near 55.Then in one session ETH travelled 10.87% from its intraday low of $1,904.90 to its high of $2,112, blowing through the $2,000 handle it had not seen in weeks.The number th...