- ETH eyes $2,700 breakout after rebounding from $2,440, with $2,600 as key resistance level.
- Over 500K ETH staked since June 1 as supply tightens and network activity hits 1-year high.
- ETH ETFs see $861M inflows in 2 weeks, supporting a bullish case for breakout above $2,700.
Ethereum attempts to break above this descending resistance. If it succeeds, the target is the horizontal level at $2,700. The cryptocurrency is showing signs of strength following its recent recovery from the $2,440 support zone. ETH is currently trading at $2,519.92, up 0.22% in the past 24 hours.
Technical Structure Points to Upward Continuation
Ethereum has formed a bullish setup on the daily chart, with higher lows and a consistent resistance zone near $2,800. According to an analysis prepared by KlejdiCuni, the price rebound from $2,440 signals strong accumulation. The current ascending channel structure shows that buyers may be regaining control.
The 200-day simple moving average sits around $2,600 and remains a key level. ETH needs to close above this line to confirm bullish momentum. If the breakout is successful, the next resistance zone lies at $2,800. Beyond that, upside targets include $3,300 and $3,800, based on previous reaction levels.
The golden cross pattern on Ethereum’s daily chart is still intact. This pattern, formed by the 50-day moving average crossing above the 200-day average, is widely seen as a strong long-term signal.
On-Chain Metrics and Network Activity Reflect Strong Demand
On-chain metrics also support the case for a breakout. According to data shared by CryptoQuant, over 500,000 ETH have been added to staking since June 1. The total staked supply now exceeds 35 million ETH. This signals decreasing liquid supply and strong holder confidence.
BitBull reported that Ethereum’s network activity is also accelerating. “Despite prices hovering around $2.5K, 800K–1M new addresses are getting created every week,” they noted. Weekly transactions recently reached a one-year high.
Spot ETH ETFs have brought in over $861 million in net inflows over the last two weeks, as per Farside Investors. If volume continues to grow, Ethereum may soon confirm a breakout toward the $2,700 level.
