According to BlockBeats, on June 27, HTX market data showed that Ethereum (ETH) broke through the $1,600 resistance level, currently trading at $1,602, up 1.6% in the past 24 hours.
The breakout occurred during the Asian trading session, with prices climbing steadily from around $1,570 to breach the $1,600 mark. Ethereum had been consolidating in a tight range between $1,550 and $1,590 for nearly 48 hours prior. The move came with moderately increasing volume, suggesting a recovery in market sentiment.
From a technical perspective, $1,600 serves as a key short-term psychological resistance. If it holds as support, the next target would be around $1,650. On the downside, a failure to hold could see a retest of the $1,550–$1,570 support zone. On-chain data shows that Ethereum's gas fees have remained in the 15–25 gwei range, indicating stable network activity.
On the macro front, the Federal Reserve's recent decision to hold interest rates steady has provided some support for risk assets. However, markets remain cautious ahead of the upcoming U.S. PCE data release next week, which could introduce volatility across the cryptocurrency sector.