Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has recently reclaimed the critical $2,600 price level, igniting optimism among investors and analysts about a possible upward rally. This resurgence follows a period of consolidation and market volatility, with ETH finding strong support near $2,530 before breaking through key resistance zones fueled by substantial trading volumes.
Market experts highlight that this breakout above $2,600 could pave the way for Ethereum to challenge higher targets, including the $2,700 to $2,750 range, and potentially approach the psychological $3,000 barrier if bullish momentum persists. The surge is supported by notable institutional interest, exemplified by significant inflows into Ethereum spot ETFs, which have attracted over $248 million recently, reflecting growing confidence from large-scale investors.
On-chain data reveals increased accumulation by whale investors, with purchases exceeding 138,000 ETH in a short span, alongside considerable short position liquidations, further contributing to the positive price action. Technical analysis indicates that maintaining above the $2,600 resistance is crucial for sustaining the rally, while failure to hold this level could see ETH retracing to support zones around $2,300 or lower.
Overall, Ethereum is at a pivotal juncture in July 2025, with market sentiment and volume trends suggesting a potential breakout that could redefine its price trajectory in the near term.
