The Ethereum price is flashing major upside signals as on-chain and market activity align toward a potential breakout to the $3,000 level. With crypto exchange balances falling to their lowest in nine years, stablecoin rails hitting record highs, and Spot Ethereum ETF inflows spiking last month, analysts now describe ETH as a “powder keg” primed for explosive movement.   Ethereum Price Eyes A $3,300 Breakout  The Ethereum price action is drawing attention as it continues to trade within a well-defined consolidation range, hovering near $2,555 at the time of writing. Based on a recently released technical analysis by crypto analyst Pentoshi on X social media, ETH could be on the verge of a significant move, with $3,300 marked as the next bullish target in the near term.  The crypto expert’s chart reveals that since early May 2025, Ethereum has been locked between two key levels—a support zone around $2,190 and resistance near $2,750. This range has remained intact for over eight weeks, signaling a period of accumulation and low volatility after the sharp decline experienced in the first quarter of the year.  Pentoshi has pinpointed $2,100 as the key downside risk in his bullish outlook, aligning closely with the lower support zone marked on the chart. While the next bullish extension and major resistance level has been identified as $3,300, the analyst expects Ethereum to make a move toward this price level within the next three months. He suggests that the current setup offers a favorable risk-reward profile, estimating a potential upside of roughly 3.2x compared to the downside risk.  Analyst Calls Ethereum A “Powder Keg” In other news, Eric Conner refers to Ethereum as a “powder keg,” highlighting a growing convergence of fundamental factors that are building up pressure and positioning the cryptocurrency for a potentially parabolic move in the market.  The analyst reports that Stablecoin activity on Ethereum has reached historic highs, with the total market capitalization of on-chain dollar-denominated assets hitting $251 billion—a record that also marks 21 consecutive months of uninterrupted growth. In parallel, Ethereum Spot ETFs have brought in $1.17 billion in net inflows during June alone, marking a major shift in investors’ appetite for ETH exposure.  Even more notable, the amount of Ethereum available for trading is now at its lowest level in nearly a decade, with only nine million ETH tokens on centralized crypto exchanges. This nine-year low in exchange balances signals a drying float, where any fresh demand has an outsized impact on price.  Conner has stated that large-scale crypto investors are beginning to take note. He reports that wallets holding between 1,000 and 10,000 ETH have accumulated more than 800,000 tokens daily during the peak week in June, marking the most aggressive absorption by whales since 2017.  Currently, price action mirrors tension, and the analyst warns that if Ethereum decisively clears the $2,600 resistance level, the combination of supply scarcity, ETF-driven demand, and explosive stablecoin usage could unleash a violent and rapid breakout.

Institutional demand for Ethereum appears strong as spot exchange-traded funds (ETFs) have recorded seventh-straight week of inflows. US Ethereum Spot ETFs Have Recently Seen Continuous Inflows In a new post on X, the analytics firm Glassnode has shared an update on how the netflow related to the US Ethereum spot ETFs is looking. Spot ETFs are investment vehicles that allow investors to gain exposure to a given cryptocurrency without having to directly own tokens of it. These ETFs trade on traditional platforms, so traders taking this route don’t have to bother with digital asset exchanges and wallets. For investors only familiar with the traditional mode, this fact can make the ETFs the preferrable mode of investment. The US Securities and Exchange Commission (SEC) approved spot ETFs for Ethereum in mid 2024, half a year after Bitcoin’s approval went through near the start of the year. Below is the chart shared by Glassnode that shows how the aggregate netflow has been like for the US ETH spot ETFs during the past few months. As is visible in the graph, the Ethereum spot ETFs saw outflows earlier in the year, but the trend has been different since the final third of April. Save for a week in May, a net amount of capital has been pouring into these investment vehicles. “As ETH rebounded from $2.2K to $2.5K, institutional appetite followed,” notes Glassnode. “Spot ETH ETFs recorded 106K ETH in net inflows last week – marking the 7th consecutive week of positive flows.” Ethereum isn’t the only cryptocurrency that has recently been enjoying ETF inflows. As the analytics firm has pointed out in another X post, the number one digital asset, Bitcoin, is also seeing demand pick up. As displayed in the above chart, Bitcoin has also been seeing a green netflow for the US spot ETFs, but due to a week of outflows in early June, the streak only stands at three weeks for the asset. During the latest week, around 15,000 BTC flowed into the ETFs. In USD terms, that’s equivalent to $1.6 billion. For comparison, inflows amounted to $258.6 million for Ethereum. Clearly, while both have seen demand, there is a clear difference of scale involved between the two. From the graph, it’s apparent that the US Bitcoin spot ETFs saw an acceleration of demand over the course of June. It only remains to be seen, though, whether the trend would keep up in this month of July. ETH Price Ethereum crossed the $2,500 level earlier, but it seems the coin has since faced a pullback as its price is back at $2,400.

The US Bitcoin spot ETFs logged over $2 billion in net inflows last week, marking a three-week streak of positive momentum. Despite a bearish start to June, with $128.81 million in net outflows during the first trading week, investor appetite soon quickly rebounded. This turnaround has resulted in a cumulative $4.63 billion in deposits over the past three weeks. Bitcoin ETFs On Impressive 14-Day Positive Streak Despite Market Uncertainty On Friday June 27, the 12 US Bitcoin ETFs registered net inflows of $501.27 million bringing the aggregate deposits of the last week to a staggering $2.22 billion. According to data from ETF tracking site SoSoValue, the clean streak of daily inflows from last week extends the ETFs’ positive performance to 14 consecutive days. In analyzing individual ETF data from this week, the BlackRock IBIT registered $1.31 billion in net deposits solidifying its position as the market’s unrivalled leader. Meanwhile, Fidelity’s FBTC and Ark/21 Shares’ ARKB also experienced substantial cumulative inflows of $504.40 million and $268.14 million, respectively. Grayscale’s BTC, VanEck’s HODL, Valkyrie’s BRRR, Invesco’s BTCO, and Franklin Templeton’s EZBC also recorded moderate net flows ranging from $1million – $25 million. In familiar fashion, Grayscale’s GBTC produced the only net outflows losing $5.69 million in withdrawals, but still retains its position as the third largest Bitcoin ETF with $19.79 billion in net assets. Following this week, the US Bitcoin Spot ETFs have now recorded $4.50 billion in net flows in June signaling a resolute demand from institutional investors despite Bitcoin market troubles. Notably, the premier cryptocurrency has witnessed extensive corrections since hitting a new all-time high of $111,790 on May 22. Over the last month, BTC has made no new price discovery trading largely between $100,000 and $110,000 to form a descending price channel. While this price performance reflects a neutral market sentiment, the high influx of capital into the Bitcoin ETFs signal a long-term confidence by institutional investors on Bitcoin’s price appreciation prospects. Ethereum ETFs Log $283 Million In Deposit To Close Out H1 2025 In other developments, SoSoValue data also reveals that US Ethereum Spot ETFs notched up a cumulative inflow of $283.41 million over the last week extending their positive streak to seven consecutive weeks. In June alone, these ETFs saw total inflows of $1.13 billion, marking their largest monthly gain in 2025. As of the time of writing, the total net assets of the Ethereum ETFs stand at $9.88 billion, accounting for 3.37% of Ethereum’s market capitalization. Meanwhile, Ethereum continues to trade at $2,441 with Bitcoin prices set around $107,339.