Ethereum Shatters Resistance: $3,400 Target in Sight as Bulls Take Control

Ethereum''s breakout rally just flipped from ''hopeful'' to ''unstoppable.'' Technical analysts now see a crystal-clear trajectory toward $3,400—and the charts agree.

### The Bull Case in Three Candlesticks

Key resistance levels crumbled overnight as ETH volume spiked 40%. No fancy indicators needed—this is pure demand swallowing every ask in sight.

### Shorts Get Rekt (Again)

Liquidations hit $85M in 12 hours as overleveraged bears learned the hard way: betting against ETH during upgrade season is like shorting rain during monsoon.

### The Cynic''s Corner

Wall Street still won''t touch this ''volatile crypto asset''—unless you count the secret trading desk every major bank totally doesn''t operate. $3,400 looks conservative if the ETF floodgates crack open.

Next stop: Price discovery. And this time, the institutions might actually be along for the ride—just don''t expect them to admit it at the country club.

Ethereum Clear for Move to $3,400

Above current levels, resistance is relatively light and evenly distributed up to around $3,400, where the first significant resistance appears.

If the current support zone holds, ETH has a clear technical path to $3,420, it noted. However, the speed of any rally will depend on how holders in the $2,800 to $3,300 range react to price increases, analysts said.

Meanwhile, Santiment reported that social sentiment for Ethereum was increasing, which implies greater retail interest.

“Twitter discussions emphasize Ethereum’s market activity, price surges, derivatives trading, institutional adoption, and bullish sentiment, reflecting strong trading volumes and strategic analysis involving ETH.”

Crypto analyst ‘Rekt Capital’ observed that ETH retested $2,500 as support for a rally to $4,000 in August 2021 and then again in early 2024. “For the past five weeks, ETH has been successfully retesting $2,500 as support,” they noted. The analyst also noted that Ethereum dominance has reached 10% in an uptrend for the first time since March 2020.

Meanwhile, institutions are still loading up with 18 straight days of inflows into spot Ether ETFs. Wednesday saw the highest inflow since early February, with $240 million entering the products. “And there’s still no staking or in-kind creations and redemptions,” exclaimed ETF Store President Nate Geraci.

18 straight days of inflows into spot eth ETFs…

Nearly $250mil just today.

And there’s still no staking or in-kind creations & redemptions.

So early.

— Nate Geraci (@NateGeraci) June 12, 2025

Elsewhere on Crypto Markets

Ethereum hit an intraday and four-and-a-half-month high of $2,870 in late trading on June 11 before correcting to $2,760 during trading in Asia on Thursday morning.

Bitcoin was retreating from its weekly top of $110,000 and had fallen back below $108,000 at the time of writing.

Altcoins were in the red with larger losses for Solana, Dogecoin, Tron, Cardano, Sui, Chainlink, and Avalanche, wiping out recent gains.