- Ethereum continues consolidating above $2,500, forming a bullish structure and testing the $2,700 resistance with weakening supply pressure.
- BlackRock shifted $561M from Bitcoin into Ethereum, buying $118.6M worth of ETH without selling since May 7.
- Ethereum user activity has surged 17% in one week, showing increased on-chain demand and reinforcing the current bullish setup.
Ethereum still sits near a major resistance level at $2,700 and shows signs of a potential middle. Current price action shows extreme buying interest as ETH continues to hold above the $2,500 support level and is confirming ongoing bullish structure.
Price Structure Signals Breakout Potential Near $2,700
Ethereum’s price movement has remained consistently strong above the $2,500 support zone. The market structure shows repeated tests of the $2,700 resistance, a zone that previously marked a breakdown point earlier in Q1. This repeated testing, accompanied by higher lows, suggests supply at this level is weakening.
Michaël van de Poppe noted that ETH is displaying a bullish accumulation structure. This pattern, combined with persistent attempts to reclaim the red resistance band, signals strengthening momentum. The RSI is also recovering steadily while staying below overbought levels, indicating more upside potential may remain.
A confirmed breakout above $2,700 could pave the way toward testing the psychological $3,000 mark. The consolidation range, supported by increasing volume, hints at a larger move ahead if resistance is cleared.
Institutional Flows and On-Chain Activity Add to Bullish Outlook
Activity from large institutions may be fueling this upward pressure. Junaid Dar reported that BlackRock has shifted from Bitcoin to Ethereum, offloading $561 million in BTC and acquiring $118.6 million in ETH within two days. Notably, since May 7, BlackRock has not sold any of its ETH holdings.
Such a move by a major institution adds to confidence in Ethereum’s current structure. Institutional shifts often occur around accumulation zones and can signal broader strategy adjustments in favor of ETH.
Meanwhile, on-chain usage is also expanding. CryptoGoos noted that Ethereum user activity reached record levels this week, rising 17% from the previous week. This surge supports the broader bullish case and reflects growing demand for network utility.
Support Zones Below Provide Safety Net for Bulls
If Ethereum fails to break above $2,700, the market has several layers of support to watch. The key short-term demand zone lies between $2,400 and $2,110. This green zone has acted as a reliable support base during past pullbacks and remains structurally sound.
Below this, a higher timeframe support region extends from $2,111 to $2,000. These stacked zones offer buyers a solid defense line and reflect ongoing market interest at lower levels.
With price, volume, and structural momentum aligning, Ethereum’s current positioning suggests that bulls remain in control unless these levels are breached. The $2,700 mark continues to be the decisive level for a new yearly high.
