Ethereum’s Next Stop: Can ETH Shatter the $2,680 Barrier and Keep Rallying?

Ethereum bulls are charging—again. After clawing back from crypto winter’s depths, ETH now eyes the $2,680 price level like a climber spotting base camp. But can it summit higher?

Technical charts show a clear path if Bitcoin doesn’t throw a tantrum. Liquidity pools above $2,700 look juicy for takers. Meanwhile, TradFi analysts—busy downgrading their own 2023 ’ETH is dead’ reports—mutter about ’overbought conditions.’

DeFi’s backbone isn’t just betting on price. The Merge’s energy cuts and layer-2 adoption give fundamentalists ammo. Still, watch those gas fees. Nothing kills a rally like users realizing they paid $50 to ape into a meme coin.

One thing’s certain: Wall Street’s ’blockchain, not Bitcoin’ crowd just got quieter. Whether ETH punches through or gets rejected, the real question is who’s left holding bags—degens or the ’responsible investors’ who still think stablecoins are safe.

Ethereum bounces back

After a challenging start to 2025 with a sharp 45.41% drop in Q1, ethereum has staged a remarkable comeback in Q2, posting a 39.4% gain.

This positive shift aligns closely with the rollout of the Pectra upgrade – a key network enhancement aimed at improving scalability, security, and user experience.

Market Optimism surrounding the upgrade has clearly bolstered investor confidence, helping ETH regain its footing.

Source: Coinglass

Historically, Ethereum has shown strong Q2 performances. But this year’s rebound feels particularly significant as it reestablishes bullish momentum and sets the stage for a potentially strong second half of the year.

Whale watch

A mysterious Ethereum whale has stirred the waters with a jaw-dropping $75.39 million ETH purchase on the 26th of May.

Source: X

This is no ordinary investor—the same wallet’s last major purchase led to ETH doubling in two weeks.

Now, with $23.73 million in past ETH gains and already $1.52 million up on this latest position, traders, and analysts are closely watching the move, adding weight to the current bullish sentiment.

ETH flips resistance as bulls gain control

At press time, Ethereum broke past the $2,550 resistance level, trading at $2,553.26. The hourly chart showed a bullish green candle pushing ETH upward after a brief correction, showing renewed buyer interest.

Source: TradingView

RSI stood at 54.40 – neutral but climbing – while MACD remained below zero, suggesting early-stage bullish momentum. This breach could mark a short-term trend reversal, especially following the whale accumulation that’s stirred optimism in the market.

If volume sustains and ETH holds above this level, the next target could be the $2,680 mark.