- Ethereum holds strong support between $2,300–$2,400 with growing institutional inflows and accumulation activity.
- ETH’s price remains capped within the $2,227–$3,385 range; a breakout above $2,800 is crucial for a rally.
- A 7-day moving average crossing above the 14-day average signals momentum, targeting $3,000 next.
Ethereum (ETH) slipped 2.3% on Wednesday, extending its June decline despite bullish undercurrents such as strong ETF inflows, historic long-term holder accumulation, and corporate treasury adoption. The recent addition of ETH to a company’s balance sheet reignited optimism among traders.
Crypto analyst Ali noted the move, acknowledging the sentiment shift but warning investors not to get carried away. He emphasized the need for a confirmed breakout to validate sustained upward momentum in Ethereum’s price.
Ethereum’s $2,227–$3,385 Range Caps Movements
Ali underscored that Ether remains inflationary, meaning its supply continues to grow, limiting the asset’s scarcity-based price appeal. He maintained that without structural tokenomic changes or technical breakouts, bullish expectations may be premature, especially in the face of historically inconsistent price performance within a defined trading channel.
For a real breakout, ETH may decisively close outside the $2,227–$3,385 range, which has capped both upside and downside moves in recent months. Before that, the range of prices would hardly ever change, and “choppy” trading would be familiar. Continue to trade in balance and waiting for sideways price action might keep both bulls and bears equally frustrated with the lack of a clear trend.
Also Read: Ethereum at a Crossroad: Can $2,544 Resistance Mark the Start of a Bullish Trend?
Breakout Could Trigger $3,000 Rally
A recent post by Fortis Crypto mentions a more optimistic technical picture. The analysis highlights Ethereum forming higher lows on the price chart, a classic bullish structure that suggests accumulating demand. These formations point to underlying strength, particularly in the short term.
Adding to this bullish case, Ethereum’s 7-day moving average has crossed above the 14-day average, typically a positive momentum signal. Fortis Crypto has pointed out the $2,300–$2,400 price band to be a good support zone where the price of ETH usually bounces off.
Resistance is still there, from $2,700 to $2,800, and a breakthrough above this range is probable to give rise to another attempt to reach the psychological $3,000 level, which is a significant one for market sentiment.
Ethereum was given an additional boost as the addresses collecting Ethereum climbed to an all-time high in June. The addresses that had just been storing the Ether and have not made any sales indicate a long-term commitment to the cause.
Also Read: Ethereum (ETH) Poised for a Massive Rally After 4 Years of Consolidation: Analyst
