Ethereum Shatters Resistance – 1.3M ETH Stacked at $2.7K-$2.74K Could Fuel Next Leg Up

Ethereum bulls just flipped the script—breaking free from a month-long consolidation with a decisive move above key resistance. The breakout comes as whales anchor nearly 1.3M ETH between $2,700 and $2,740, creating a potential launchpad for higher prices.

Liquidity Magnet:
That hefty ETH stash around $2.7K isn’t just a number—it’s a battleground. Market makers love clusters like these, either propelling price toward stops above or squeezing shorts back into the range. Either way, volatility’s back on the menu.

Cynical Take:
Traders who missed the breakout are now scrambling for narratives—DeFi revival? ETF whispers?—while quietly FOMO-ing in. Because nothing fuels crypto rallies like the fear of being left behind while your neighbor moonshots his bag.

Ethereum Pushes Into Resistance As Market Eyes Breakout And Altseason

As the U.S. and China continue trade deal negotiations, financial markets are bracing for a decisive move, and Ethereum is right at the center of attention. With major headlines shifting global risk sentiment, ETH’s price action has become a leading indicator for the broader crypto market. Ethereum is now pressing into a key resistance zone near $2,800, and analysts agree: if ETH can reclaim higher levels, it could confirm the start of a long-awaited altseason.

Despite macro uncertainty, positive sentiment continues to build. Ethereum recently broke out of a month-long consolidation range, a signal of growing strength. According to data from Glassnode, the Cost Basis Distribution reveals that 1.3 million ETH were accumulated between $2,700 and $2,740, while another 800,000 ETH were bought around $2,760. These levels now serve as a strong on-chain support base, reinforcing the bullish structure and suggesting that buyers from the consolidation phase are likely to hold rather than sell.

This backdrop puts Ethereum in a decisive position. A confirmed breakout above $2,830 could open the door to a swift rally toward $3,000 and beyond. With solid support underneath and the entire altcoin market watching, ETH is poised to lead the next phase of crypto expansion—if bulls can maintain control.

ETH Holds Gains Above $2,750 After Breakout From Range

Ethereum is trading at $2,766 on the 4-hour chart after breaking out of a month-long range and briefly hitting a high of $2,794. Price has now pulled back slightly, but the structure remains bullish as ETH continues to hold above the previous resistance zone, now flipped into support around $2,700–$2,740.

This consolidation above the breakout zone is a healthy sign, suggesting bulls are in control and preparing for a continuation move. The 50, 100, and 200 simple moving averages (SMAs) — currently at $2,587, $2,588, and $2,557, respectively — have all turned upward and are stacked beneath price, further supporting the trend.

Volume surged during the breakout but has cooled slightly during the pullback, signaling no immediate signs of heavy distribution. As long as ETH holds this reclaimed range and doesn’t fall back below the 200 SMA, the bias remains bullish. A successful retest of the breakout zone could lead to another push toward the $2,850–$2,900 range.

Featured image from Dall-E, chart from TradingView