Ethereum (ETH) Price Showdown: Bulls and Bears Clash at $2,600 as Traders Cash In

Ethereum's $2,600 level becomes the crypto colosseum—where profit-takers and diamond hands duel for control.

The tug-of-war: ETH's 30% rally from June lows has traders flipping between 'to the moon' and 'take the money and run.' Classic crypto schizophrenia.

Liquidity watch: Order books show stacked sell walls at $2,650—because why let retail traders exit gracefully? Meanwhile, derivatives traders are levering up like it's 2021 all over again.

Macro ghosts: With the SEC quietly shelving ETH ETF approvals until after the election (shocking), the market's left to its own devices—meaning 4x long liquidations when some whale sneezes wrong.

Will $2,600 hold? Ask the algo traders—they're the only ones who care about 'support levels' anymore. Everyone else is just waiting for the next VC shitcoin to pump.

TLDR

• Ethereum price is struggling at the $2,600 resistance level with increased profit-taking activity from traders
• Daily profitable transactions have spiked near this price zone, creating selling pressure
• Exchange inflows remain flat despite profit-taking, suggesting no panic selling is occurring
• Whale activity stays muted with large holders not aggressively buying or selling
• Strong support exists at $2,200 level, but if broken, next major support sits at $1,160

Ethereum price continues to test the $2,600 resistance level as on-chain data reveals increased profit-taking activity. The second-largest cryptocurrency by market cap faces headwinds from traders cashing out gains at this key technical level.

Daily profitable transactions have surged each time ETH approached $2,600. This indicates many wallet holders are exiting positions once the price reaches this zone. The pattern has repeated multiple times, creating consistent resistance.

These profit-taking events are not panic sales but represent strategic risk management. Traders appear to be trimming positions when key resistance levels are hit. This behavior has historically served as a local price ceiling for Ethereum.

The profit-taking activity mirrors previous patterns seen NEAR $2,400 and $2,550 levels. Each instance triggered short-term cooling-off periods for the price. The same hesitation is now visible at current levels.

Exchange netflows remain muted despite the surge in profitable transactions. This suggests wallet holders are either keeping their ETH or rotating funds elsewhere rather than rushing to centralized exchanges to sell.

The absence of major exchange inflows is crucial for price stability. Previous market tops often featured spikes in profit-taking accompanied by clear inflow surges to exchanges. The current lack of this signal suggests the market is not panicking.

Whale Activity Remains Neutral

Large holders with transactions over $100,000 and $1 million show no signs of aggressive buying or selling. This inactivity near resistance often precedes sharp price movements in either direction.

Whales may be waiting for confirmation above $2,650 before re-engaging. A breakout with rising volume could bring them back and signal confidence in moving past current resistance levels.

The Chaikin Money FLOW indicator sits at -0.03, just below neutral. This shows buyers are not flooding in, but there is no major outflow either. The current trend appears driven by technical structure rather than fresh momentum.

Ethereum has maintained its ascending channel formation since May. The recent bounce from around $2,450 keeps this pattern intact. However, without a decisive break above $2,650, the structure remains vulnerable to profit-based pullbacks.

Support Levels Below Current Price

On-chain analysis reveals strong support at the $2,200 level. This price range hosts the cost basis for 6.28 million addresses holding a total of 67.2 million ETH tokens.

The most critical support for ethereum $ETH sits at $2,200. If this level fails to hold, the next key area to watch is $1,160. pic.twitter.com/UmLxCG41uZ

— Ali (@ali_charts) June 30, 2025

Investors who purchased in the $2,218 to $2,396 range are currently in profit. These holders typically add to positions during declines to their acquisition levels, believing the same price will prove profitable again.

If ETH falls below $2,200, the next major support zone sits much lower at $1,160. This level represents the cost basis for 35.9 million addresses holding 21.58 million tokens.

The gap between support levels suggests Ethereum could face difficulty finding footing if the $2,200 level fails. All intermediate ranges show much smaller supply concentrations.

Current price action shows ETH holding above the key on-chain demand zone at $2,200. The cryptocurrency trades around $2,475 as it continues testing higher levels.

The market structure shows compressed Optimism with higher lows, modest inflows, and controlled exits. This often represents calm before conviction returns to the market.

A breakout above $2,650 with rising volume and fresh money Flow could shift market sentiment. Until then, Ethereum remains in a zone of technical resistance with controlled profit-taking activity.