TLDR:
- Ethereum broke out of a falling wedge, now consolidating above the 200-day moving average
- ETH trades between $2,482 and $2,771, showing strength above major support at $2,680
- BlackRock has increased ETH holdings to $3.71B without selling since early May
- Analysts see a potential ETH breakout to $3,000 if resistance at $2,800 is cleared
Ethereum (ETH) may be poised for a rally as technical indicators and institutional trends align. Analysts are observing price consolidation above a key support level, while buying interest from major players increases.
Despite short-term sideways action, broader momentum appears to favor bulls. Chart patterns suggest potential for a breakout, and growing investment from large funds adds strength to the narrative.
Combined, these signals position Ethereum for a possible surge toward the $3,000 level soon.
ETH Technical Pattern Hints at Breakout
Chart analysis by crypto analyst Captain Faibik shows Ethereum recently broke out of a falling wedge on the daily chart.
The breakout in early May lifted ETH above its 200-day moving average (MA200), currently near $2,680. Since then, price action has stabilized just above this level, suggesting a key area of consolidation.
$ETH Daily MA200 (2680) is losing strength.. A breakout seems imminent..
3000 incoming this week..
#Crypto #Ethereum #ETH pic.twitter.com/jbXDJi685H
— Captain Faibik
(@CryptoFaibik) June 3, 2025
The analyst noted that MA200 appears to be flattening, reducing downward pressure, and creating a base for further upward movement. The consolidation zone near $2,800 has acted as resistance, but the market shows signs of coiling for another move. If ETH holds above $2,680, traders expect renewed momentum to test higher levels.
According to CoinGecko, Ethereum trades at $2,609.40, gaining 4.66% in the past 24 hours and 1.77% over the last week.
Its recent price range spans from $2,482.90 to $2,771.24, with support at $2,482.52 and resistance at $2,644.95. This tight range reflects consolidation, often a precursor to larger directional shifts.
ETH’s position between strong support and minor resistance suggests limited downside if bulls maintain volume. Market watchers say continued buying pressure could push the asset closer to $3,000.
BlackRock Boosts Ethereum Exposure
Another bullish signal comes from BlackRock’s recent crypto rebalancing. In the past two days, it offloaded $561 million in Bitcoin while acquiring $118.6 million in ETH. This follows its earlier $276 million purchase of ETH in February 2025.
Data shows BlackRock has not sold any ETH since May 7, signaling long-term accumulation. Its total Ethereum holdings now stand at $3.71 billion. The investment shift supports expectations of a broader altcoin run, with ETH at the forefront.
𝐁𝐋𝐀𝐂𝐊𝐑𝐎𝐂𝐊 𝐈𝐒 𝐃𝐔𝐌𝐏𝐈𝐍𝐆 𝐁𝐓𝐂 𝐓𝐎 𝐁𝐔𝐘 𝐄𝐓𝐇
… pic.twitter.com/5T76Ywdhty
— Wise Advice (@wiseadvicesumit) June 3, 2025
BlackRock’s behavior has sparked speculation of an approaching altseason. Analysts note that such rotations often follow periods of Bitcoin strength, favoring top altcoins like ETH.
With ETH maintaining key levels and attracting institutional capital, traders are watching for the next move. If Ethereum clears resistance near $2,800, a break above $3,000 could follow quickly. However, failure to hold above the MA200 may delay momentum.
The post Why Ethereum (ETH) Price Could Rally Soon appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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