Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The Ethereum price is flashing major upside signalsas on-chain and market activity align toward a potential breakout to the $3,000 level. With crypto exchange balancesfalling to their lowest in nine years, stablecoin rails hitting record highs, and Spot Ethereum ETF inflowsspiking last month, analysts now describe ETH as a “powder keg” primed for explosive movement. Ethereum Price Eyes A $3,300 Breakout
The Ethereum price actionis drawing attention as it continues to trade within a well-defined consolidation range, hovering near $2,555 at the time of writing. Based on a recently released technical analysis by crypto analyst Pentoshi on X social media, ETH could be on the verge of a significant move, with $3,300 marked as the next bullish target in the near term. Related Reading Crypto Analyst Predicts $10,000 ATH For Ethereum This Cycle, Here’s Why 6 days ago
The crypto expert’s chart revealsthat since early May 2025, Ethereum has been locked between two key levels—a support zone around $2,190 and resistance near $2,750. This range has remained intact for over eight weeks, signaling a period of accumulation and low volatilityafter the sharp decline experienced in the first quarter of the year. Source: Pentoshi on X
Pentoshi has pinpointed $2,100 as the key downside riskin his bullish outlook, aligning closely with the lower support zone marked on the chart. While the next bullish extensionand major resistance level has been identified as $3,300, the analyst expects Ethereum to make a move toward this price level within the next three months. He suggests that the current setup offers a favorable risk-reward profile, estimating a potential upside of roughly 3.2x compared to the downside risk. Analyst Calls Ethereum A “Powder Keg”
In other news, Eric Conner refersto Ethereum as a “powder keg,” highlighting a growing convergence of fundamental factors that are building up pressure and positioning the cryptocurrency for a potentially parabolic movein the market. Related Reading The Ethereum Waiting Game: Breakout To $2,800 Or Crash To $2,000? 1 week ago
The analyst reports that Stablecoin activityon Ethereum has reached historic highs, with the total market capitalizationof on-chain dollar-denominated assets hitting $251 billion—a record that also marks 21 consecutive months of uninterrupted growth. In parallel, Ethereum Spot ETFs have brought in $1.17 billion in net inflowsduring June alone, marking a major shift in investors’ appetite for ETH exposure.
Even more notable, the amount of Ethereum available for trading is now at its lowest level in nearly a decade, with only nine million ETH tokens on centralized crypto exchanges. This nine-year low in exchange balances signals a drying float, where any fresh demand has an outsized impact on price.
Conner has stated that large-scale crypto investors are beginning to take note. He reports that wallets holding between 1,000 and 10,000 ETH have accumulated more than 800,000 tokens daily during the peak week in June, marking the most aggressive absorption by whalessince 2017.
Currently, price action mirrors tension, and the analyst warns that if Ethereum decisively clears the $2,600 resistance level, the combination of supply scarcity, ETF-driven demand, and explosive stablecoin usage could unleash a violent and rapid breakout. ETH trading at $2,551 on the 1D chart | Source: ETHUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com