- Ethereum breaks $2,800 resistance with momentum, targeting $3,200, $3,600, and $4,000 next.
- SharpLink acquires 205K ETH worth $618M as institutional interest and staking activity rise.
- CME open interest hits $3.27B, while Layer 2 platforms show strong growth in TVL and transactions.
Ethereum is going to $4,000. The asset recently pushed above a major resistance level, signaling a potential continuation of the bullish trend. Strong demand and rising institutional involvement are supporting this upward momentum, while technical indicators show a breakout with follow-through potential.
Ethereum Clears $2,800 as Momentum Builds Toward $4,000
Ethereum has broken the key $2,800 resistance level, according to an analysis prepared by Ted Pillows. This move confirmed a bullish breakout as the price reclaimed a previously contested area.
The move came with increased buying activity and rising momentum. ETH rebounded from a mid-June low near $2,300, and it steadily climbed to $2,928.83. The $2,745 zone, which previously served as resistance, was cleared in early July, strengthening the structure. Short-term market structure now favors continued upside movement.
The next levels analysts are tracking include $3,200 and $3,600. Ethereum’s monthly gain stands at 5.84%, with technical momentum still building. Crypto Rover stated via X, “ETH to $3,000 is completed. $4,000 is NEXT.” Market participants are now watching if Ethereum can sustain its position above $2,800 and $2,945.
Institutional Activity and Ecosystem Growth Fuel Strength
Ethereum’s market capitalization stands at $353.55 billion, with a circulating supply of 120.71 million ETH. The asset’s fully diluted valuation also matches its market cap, showing no active inflation.
According to CoinMarketCap, daily volume reached $23.33 billion, despite a 47.03% decrease from previous sessions. This still reflects active participation across platforms. Institutional interest has increased. SharpLink Gaming acquired over 205,000 ETH, valued at $618 million.
CME open interest also rose to $3.27 billion. Layer 2 activity continues rising. Platforms like Arbitrum and zkSync have recorded high transaction counts and total value locked (TVL). Analysts also observe strong Ethereum staking trends and stable gas fees.
