Ethereum (ETH) is showing strong signs of an impending breakout, with prominent crypto analyst Michael van de Poppe suggesting that the asset is preparing to retest the critical $3,000 price zone. After successfully defending the $2,400 support level, ETH has regained upward momentum, sparking renewed optimism among traders and long-term investors alike.
This renewed bullish sentiment is rooted in technical developments on Ethereum’s daily chart, where key patterns suggest accumulation and consolidation are nearing completion. As market participants closely watch price action, the potential for a sustained rally into new yearly highs becomes increasingly plausible.
Key Resistance Zones and Accumulation Patterns
According to van de Poppe’s latest technical assessment, Ethereum has repeatedly tested the resistance zone between $2,700 and $2,900 over the past two months. These repeated attempts have not yet resulted in a decisive breakout—but they may be laying the groundwork for one.
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Each rejection at this upper boundary has allowed institutional and whale investors to accumulate more supply at relatively stable prices. This process, often referred to as "building pressure," can lead to powerful breakouts once buying momentum overcomes selling resistance.
The analyst notes that these consolidations are not signs of weakness but rather evidence of strength forming beneath the surface. The longer Ethereum trades within this range without breaking down, the higher the probability of a strong directional move—particularly to the upside.
Breakout from Consolidation and Strategic Dip Buying
In late June, Ethereum briefly broke below its consolidation range, reaching a seasonal low of $2,113. While this dip raised concerns among short-term traders, it was quickly reversed as buying interest emerged near key support levels.
Since mid-May, ETH has consistently reclaimed the lower boundary of its trading range, demonstrating resilience in the face of broader market volatility. Van de Poppe interprets this behavior as a classic sign of strategic accumulation—where large players take advantage of fear-driven sell-offs to build positions at discounted prices.
After finding support at $2,113, Ethereum began a steady recovery, eventually regaining lost ground and re-entering its established range. This type of price behavior often precedes significant upward movements, especially when accompanied by declining volume during pullbacks and rising volume during rallies.
$2,400 as a Launchpad for the Next Leg Up
One of the most encouraging developments in recent weeks has been Ethereum’s successful retest and defense of the $2,400 support level. The price touched this zone multiple times and rebounded each time with increasing conviction.
Van de Poppe emphasizes that $2,400 is no longer just a support level—it has evolved into a **strategic launchpad** for the next phase of growth. With momentum building and bearish exhaustion evident in on-chain metrics, the path toward $3,000 appears clearer than before.
“The way Ethereum held $2,400 tells us sellers are losing control,” said the analyst. “We’re likely seeing the final phase of accumulation before the next leg up.”
Current data from TradingView shows Ethereum trading at $2,449, reflecting a 3.32% gain since early Wednesday. This upward movement follows a short-term correction that saw ETH drop 5.68% from $2,524 to a local low of $2,372 over two days—a pullback now viewed as healthy and necessary for sustained growth.
Market Sentiment and On-Chain Indicators
Beyond technical charts, on-chain activity supports the case for a bullish reversal. Network fundamentals remain strong, with steady growth in active addresses, transaction volume, and decentralized application (dApp) usage.
Moreover, exchange outflows have increased recently, indicating that investors are moving ETH to private wallets—a common signal of long-term holding behavior. When supply tightens on exchanges and demand begins to rise, price appreciation often follows.
Additionally, derivatives markets show improving sentiment. Open interest in ETH futures has risen alongside implied volatility, suggesting growing trader participation and confidence in future price direction.
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Why $3,000 Is Within Reach
Breaking through $3,000 would mark a pivotal psychological and technical milestone for Ethereum. Achieving this target requires sustained volume-backed buying above $2,700—but all current indicators suggest such a move is increasingly likely.
Key factors supporting the $3,000 thesis include:
- Repeated rejection of lower prices at $2,400
- Strong accumulation during consolidation
- Declining selling pressure and rising investor confidence
- Favorable macro conditions with potential rate cuts in 2025
- Ongoing adoption of Ethereum-based applications in DeFi and NFTs
With these elements aligning, many analysts believe Ethereum could outperform in the coming months—especially if Bitcoin stabilizes and provides a favorable environment for altcoins.
Frequently Asked Questions (FAQ)
Q: Why is $2,400 such an important level for Ethereum?
A: The $2,400 zone has acted as strong support multiple times. Each successful bounce reinforces its significance and suggests strong buying interest at these levels.
Q: What needs to happen for Ethereum to reach $3,000?
A: ETH must first break above $2,700 with strong volume. A weekly close above this resistance would confirm bullish momentum and likely trigger accelerated buying.
Q: Is this rally sustainable or just another short-term pump?
A: Given the depth of consolidation and low exchange supply, this rally has stronger fundamentals than previous pumps. It reflects genuine accumulation rather than speculative mania.
Q: How does on-chain data support higher prices?
A: Metrics like rising active addresses, declining exchange balances, and increased staking activity all point to growing network health and long-term holder confidence.
Q: Could macroeconomic factors affect Ethereum’s price?
A: Yes. Expected monetary easing in 2025 could boost risk assets like cryptocurrencies. Lower interest rates typically increase capital flow into high-growth sectors like digital assets.
Q: Should I buy Ethereum now or wait for a dip?
A: From a technical standpoint, current levels near $2,450 offer a relatively low-risk entry point with defined downside protection at $2,400.
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Final Outlook: A New Phase of Growth Ahead
Ethereum’s recent price action reflects a maturing market structure—one characterized by resilience, strategic accumulation, and growing institutional interest. With the $2,400 support firmly established and momentum building toward $3,000, now may be an opportune time for informed investors to position themselves ahead of the next major move.
As always, prudent risk management and careful analysis should guide investment decisions. But for those watching closely, the signals suggest Ethereum is no longer just consolidating—it’s preparing to climb.
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