Ethereum (ETH) has officially broken out of a month-long consolidation range, surging above the $2,750 mark and hitting a local high of $2,830. This upward move signals growing bullish momentum, backed by strong on-chain support and a shifting macro environment that favors digital assets.
📊 Ethereum Finds Solid Ground With 1.3M ETH Held Between $2,700 and $2,740
According to on-chain data from Glassnode, investors accumulated over 1.3 million ETH in the $2,700–$2,740 price range during the recent consolidation. Another 800,000 ETH were acquired around $2,760, forming a robust support base as the price now pushes higher.
These levels are now acting as a stronghold for bulls, suggesting that many traders are already in profit and less likely to sell at current levels. This supply structure could serve as the launchpad for Ethereum to reclaim higher price targets.
🔍 ETH Price Targets: Is $3,000 Next?
Ethereum is currently trading around $2,766 and consolidating just above the previous resistance zone, which now acts as support. Analysts are closely watching the $2,830 level for confirmation of a breakout.
A successful push above that resistance could send ETH swiftly toward $3,000, triggering capital rotation into altcoins and potentially kickstarting altseason.
Technical factors supporting the bullish case include:
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50, 100, and 200 simple moving averages (SMA) all turned upward
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Support holding at the reclaimed $2,700–$2,740 range
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Decreasing sell volume during the current pullback
This structure suggests Ethereum is poised for continuation to the upside if bulls maintain control.
🌐 Ethereum Leads Market Amid Global Uncertainty
Amid trade tensions between the U.S. and China, global financial markets are volatile, but Ethereum is showing resilience. As headlines shift investor sentiment, ETH has become a key indicator for the crypto sector’s direction.
The current breakout is not just a technical move—it’s also psychological. ETH’s ability to reclaim support levels after a pullback boosts confidence among retail and institutional investors alike.
📈 ETH Technical Overview
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Current Price: ~$2,766
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Short-Term Resistance: $2,830
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Key Support: $2,700–$2,740
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Target: $2,900–$3,000
Price is holding above key SMAs on the 4-hour chart, with volume confirming the breakout. A continuation toward the $2,850–$2,900 range is likely if momentum persists.
🔚 Conclusion: Bullish Structure Intact
Ethereum’s breakout above the $2,750 level signals the end of a prolonged sideways phase. With over 2.1M ETH accumulated in the current support zone, the bulls have built a strong foundation.
If ETH breaks past $2,830, the next stop could be $3,000—and if that happens, altseason may finally be here.