Ethereum bulls are testing $2.8K resistance. Spot ETF inflows, staked ETH at all-time highs. Will ETH break through and rally towards $4,100?

Ethereum Bulls Eye $2.8K: Can ETH Surge Higher?

Ethereum's been playing hard to get, hasn't it? Bulls are eyeing that juicy $2.8K mark, but can ETH actually break through and make a run for it? Let's dive in!

The $2.8K Hurdle: A Make-or-Break Moment

Ethereum's price action is currently compressing right below the significant $2.8K level. Several analysts have pointed out that this level is crucial. A decisive close above $2.8K could trigger a violent move upward, potentially setting the stage for a more substantial rally.

But hey, if ETH can't crack $2.8K, we might see a downtrend toward key support levels. Traders are watching these levels closely, ready to pounce on long or short positions based on the price action.

Spot ETF Inflows: Fueling the Fire?

One factor supporting the bullish case for Ethereum is the persistent institutional demand, reflected by significant inflows into spot Ethereum ETFs. Despite a brief pause, these ETFs have seen substantial net inflows recently, indicating growing confidence among traditional finance players.

These inflows, reaching as high as they have been since January 2025, suggest that big players are betting on Ethereum's long-term growth. That's some serious firepower!

Staked ETH and Accumulation: Bullish Signals Galore

Ether staked has surged, hitting a new all-time high. This growth signals rising confidence and a continued drop in liquid supply. Less ETH available means higher prices if demand stays strong or increases.

Furthermore, accumulation addresses (holders with no history of selling) have also reached an all-time high, holding a massive amount of ETH. This indicates strong investor confidence and minimal selling pressure, often a precursor to price rallies.

Technical Analysis: Navigating the Trendlines

Currently, ETH price is stuck between the 200-day simple moving average (SMA) at $2,600 acting as resistance and the 50-day SMA at $2,450 as support. Bulls need to reclaim the 200-day SMA to ensure a sustained recovery toward $3,000 and beyond.

Keep an eye on these trendlines! A break above the 200-day SMA could send ETH soaring, while a drop below the 50-day SMA could signal further declines.

Potential Targets: $4,100 and Beyond?

If ETH breaks above the key resistance levels, analysts are eyeing potential targets as high as $4,100 based on bull flag patterns. Some even suggest a breakout from a cup-and-handle chart pattern could result in gains to $4,200.

Final Thoughts: Buckle Up!

Ethereum's journey to $2.8K and beyond is filled with twists and turns. Whether ETH can sustain its upward momentum remains to be seen, but the bullish signs are certainly there. So, keep your eyes peeled, and get ready for a wild ride!