- Ethereum eyes $2,750 breakout after bullish EMA crossover and RSI surge to 71.
- Whales accumulate 1.27M ETH in 4 days, boosting market confidence and rally momentum.
- Ethereum ETF inflows hit $4.4B as technicals and investor activity align for a possible $3K target.
Ethereum is gaining attention after outperforming Bitcoin and reclaiming key support levels on both daily and weekly timeframes. With price currently trading at $2,647.34, analysts are watching the $2,750 resistance as the trigger for a possible breakout. If cleared, Ethereum could move quickly toward the next major target near $3,000.
Price Structure and Technical Indicators Support a Breakout
Ethereum has registered a 6.6% intraday gain while Bitcoin recorded a 2% decline, showing relative strength in the market. According to analysis prepared by Cas Abbe on X, Ethereum has reclaimed a multi-year support trendline and completed a weekly MACD bullish cross.
The daily chart also shows a bullish 20-day and 200-day EMA crossover, which is forming for the first time since November 2024. At that time, ETH rallied 28% in less than one month. Now, the RSI stands at 71, indicating strong buying pressure, with price targeting the 123.6% Fibonacci level at $3,060.
The 50-day EMA has also converged with the 100-day EMA, forming a strong support base for future price action. Meanwhile, ETH tested $2,700 twice this week and finally broke above, which analyst Michaël van de Poppe described as “a great sign.”
Whales and Institutional Inflows Support the Price Rally
Whale accumulation continues to support Ethereum’s momentum. According to data from Santiment, wallets holding between 10,000 and 100,000 ETH accumulated 190,000 tokens between May 24 and May 29. These holdings are now valued at over $500 million.
Additionally, addresses holding between 100,000 and 1 million ETH increased by 1.27 million tokens in just four days. This reflects growing confidence from large holders during the current rally. BlackRock’s Ethereum ETF also saw $32 million in inflows on May 27. It has now recorded 13 straight days of net purchases, totaling $4.4 billion in assets under management.
According to an observation by Unknown Trader, Ethereum is forming an ascending triangle under the MA200, with resistance at $2,860, $3,263, and $3,646. A confirmed breakout above $2,750 could initiate the next leg upward.
