- Ethereum is trading above $2,700 and approaching key resistance at $2,850, with bullish signals pointing to a potential breakout toward $3,000.
- Strong institutional interest, record futures open interest, and heavy accumulation activity support the upward trend.
Ethereum is trading just above $2,700 after a 1% dip in the last 24 hours, but all eyes are on a critical breakout as the cryptocurrency nears a decisive resistance zone. Bulls are gearing up for a possible surge, with $2,850 and $2,880 acting as crucial barriers in Ethereum’s path. If broken, these levels could unlock a run toward $3,000 and beyond.
Ethereum Technical Structure Points to a Potential Surge
ETH is currently confined within an ascending channel—a pattern that traders are closely monitoring. After briefly breaching $2,850 earlier this week, Ethereum tested the upper boundary of this channel but failed to sustain the move. Still, the price remains above key moving averages, including the 200-day SMA at $2,654. This suggests a strengthening bullish trend.
Additionally, Ethereum’s rise above the 50-day and 100-day SMAs further underscores the asset’s upward bias. According to analysts, maintaining the $2,700–$2,760 range could keep the door open to a larger breakout, with $3,420 a realistic technical target if bulls hold firm.
Institutional Demand Fuels the Climb
Ethereum’s recent rally isn’t just about charts—it’s also being powered by record institutional interest. Futures open interest has surged to an all-time high of 15.21 million ETH, led by trading activity on the CME and inflows into leveraged ETFs like ETHU. Between April and early June, ETHU’s Ethereum exposure soared by over 300,000 ETH.
Meanwhile, U.S. spot Ethereum ETFs have now seen net inflows for 17 straight days, totaling nearly $125 million. This consistency reflects growing institutional confidence, even as concerns about leverage and volatility linger.
Accumulation Activity Signals Strong Holder Confidence
On-chain data also paints a bullish picture. Accumulation addresses—wallets that haven’t sold a single token—have added over 400,000 ETH in five of the past seven days. This accumulation trend indicates deep conviction among long-term holders and fresh investors alike.
Moreover, Ethereum has reclaimed the cost basis for 2.1 million ETH purchased between $2,700 and $2,760. Holding this zone could prove pivotal in sustaining upward movement.
Resistance levels to watch include $2,800, $2,880, and $2,920. A successful breakout could push Ethereum toward the psychologically important $3,000 mark and possibly to $3,078. On the downside, support at $2,680 and $2,654 offers a cushion in case of a pullback.
For now, the technical and institutional landscape both favor the bulls—so long as Ethereum can power past the ceiling.
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