- Ethereum has surged over 100% since April, climbing from $1,400 to nearly $2,800.
- Strong inflows into ETH investment products and record-low exchange balances indicate bullish sentiment.
- A breakout above $2,850 is critical for further upside momentum, with support levels at $2,350 and $2,150.
- ETH is currently consolidating between $2,475 and $2,650 amid low trading volumes.
- Market watchers eye key resistance levels at $2,675 and $2,850 for the next major move.
Ethereum Doubles from April Lows—Can ETH Break the $2,850 Barrier?
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has staged a dramatic recovery, surging over 100% from its April lows of around $1,400 to a recent high near $2,800. However, the bulls now face a critical challenge: breaking through the strong resistance at $2,850.
Also Read: Ethereum Price Prediction: Bulls Eye $2,400 as Whales Accumulate in April 2025
Investor Confidence Remains High Amid Consolidation
Despite ETH currently trading in a tight range between $2,475 and $2,650, investor confidence remains robust. According to Harish Vatnani, Head of Trade at ZebPay, Ethereum-based investment products saw net inflows of $226.4 million last week, averaging 1.6% of assets under management—double the rate seen in Bitcoin products.
This robust institutional demand is complemented by on-chain data from Glassnode, showing ETH balances on centralized exchanges have fallen to an eight-year low of just 13.5%. This suggests that long-term investors are moving their holdings to cold storage, reducing the sell pressure on exchanges.
Key Support and Resistance Levels to Watch
After peaking at $2,879, Ethereum experienced a healthy 26.5% correction, retracing to $2,111 before rebounding from a strong support level at $2,150. Now, ETH trades sideways between $2,475 and $2,650 on low volumes.
Vatnani highlights two key resistance zones at $2,675 and $2,850. If ETH successfully clears these levels, it could pave the way for further upside. On the downside, the $2,350 and $2,150 support levels are critical to watch.
Will Ethereum Break the Barrier?
Ethereum’s price action reflects a battle between strong bullish fundamentals and overhead technical resistance. While increasing institutional inflows and falling exchange balances signal long-term optimism, short-term traders remain cautious.
For Ethereum to break out of its consolidation phase, a decisive move above $2,850 is needed. Until then, the market will likely continue watching these levels closely.
