Ethereum (ETH) has surged back above the $2,800 mark, putting a significant portion of holders back into profit for the first time in weeks. According to on-chain data from Glassnode and IntoTheBlock, over 70% of ETH addresses are now in profit, signaling renewed market confidence and a potential bullish breakout ahead.
“Ethereum is entering a crucial resistance zone just below $3,000,” said crypto analyst Michaël van de Poppe. “A clean break above this could trigger a larger rally.”
Key Technical Levels Support Bullish Case
After weeks of consolidation, ETH is showing strong momentum with a series of higher lows and increasing volume. The $2,900–$3,000 region is seen as the next major resistance, and if Ethereum can close above this zone on higher timeframes, analysts expect a quick run toward $3,300 and beyond.
“This is a make-or-break moment for Ethereum,” added Rekt Capital. “If bulls maintain pressure, the upside potential is significant.”
On-Chain Metrics Signal Strength
Beyond price action, Ethereum’s on-chain fundamentals are improving rapidly:
- Exchange reserves of ETH continue to decline, showing that investors are moving their assets to long-term wallets.
- Network activity is rising, with increased daily active addresses and smart contract deployments.
- Gas fees remain moderate, which is encouraging more users and developers to return to the Ethereum network.
These indicators suggest strong holding sentiment and healthy network usage, two key factors that often precede major price moves.
Investor Sentiment Turns Bullish
The improving metrics have shifted investor sentiment to bullish, especially among retail and institutional traders. Ethereum is also benefiting from broader crypto market strength, including Bitcoin’s recent all-time highs and renewed optimism around altcoins.
Moreover, the upcoming Ethereum upgrades, such as the continued implementation of proto-danksharding (EIP-4844), are expected to improve scalability and reduce fees—fueling even more adoption.
Conclusion: Ethereum Poised for Breakout if $3K Resistance Falls
Ethereum’s return to profitability for the majority of holders is a powerful market signal. As ETH pushes into a critical resistance zone just below $3,000, traders are eyeing a potential breakout that could ignite the next phase of the bull run.
If this level breaks, Ethereum may quickly climb toward $3,300–$3,500, bringing even more wallets back into profit and validating ETH’s strength in the current cycle.
The market is watching — and the bulls are charging.