Ethereum hits $1,800 resistance as tokenization hype meets weak demand

Ethereum is back in the green today, but the 3% climb masks some ugly cracks in the floor. The rally leans heavily on a sudden rush of institutional interest in tokenized assets, yet the underlying network activity isn't keeping pace. While bulls are eyeing a breakout above $1,800, the derivatives market looks tired. Open interest is stalling and traders aren't showing the shark-like aggression needed to turn this bounce into a trend. We aren't seeing the heavy onchain volume that usually supports a sustained leg up. If these momentum buyers don't get backup from retail users soon, ETH risks a fast slide back toward the $1,700 level. It's a classic tug-of-war between the long-term promise of real-world assets and the harsh reality of current network fees. Will the institutional accumulation be enough to clear the overhead supply, or are we just watching another bull trap?