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.

A widely followed crypto analyst is unveiling his price predictions for Ethereum (ETH) and Bitcoin (BTC), the top two digital assets by market cap. In a new strategy session, pseudonymous crypto trader Pentoshi tells his 868,400 followers on the social media platform X that ETH could eclipse the $3,000 price tag this quarter as it’s undergoing a “structural shift.” “I think we see $3,000+ this quarter for what it’s worth. Really can’t hate this chart. We’ve been in this new range for quite some time. I’d guess it resolves in the near future. It’s all about waiting. I do think there’s a structural shift occurring. Upside is 3.2x or so. Downside is in my opinion $2,100.” Source: Pentoshi/X Pentoshi goes on to note that he believes Ethereum will eventually “melt up,” not just against USD, but against other assets as well. “Ethereum probably melts up, and not just against the USD.” Source: Pentoshi/X The trader’s chart indicates that ETH will peak over $4,000 sometime during the start of 2025 before eventually settling around $2,500 in July of next year. Ethereum is trading for $2,577 at time of writing, a fractional increase on the day. Moving on to BTC, Pentoshi says the top crypto asset by market cap’s movements since July 2023 don’t appear to be bearish. “This is not a bearish chart. It’s just not. I think the people who are bearish got chopped because of low time frames, which lead to both mental and financial chop.” Source: Pentoshi/X He concludes by noting that the crypto king should hit a new all-time high soon, but doesn’t give a specific date range. Bitcoin is trading for $109,488 at time of writing, a 1% increase during the last 24 hours. Follow us on X, Facebook and Telegram
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