Ethereum Recovers Key Level, But Can ETH Price Break $2.8K?
Ether (ETH) rose to $2,390 on Monday, pushing its value above its realized value, indicating that the average holder of ETH is now back in profit. But is this enough for the ETH bulls to reach $3,000?
Main Receptors:
Ether stocks have returned to profit, increasing the chances for further growth. Ether's bullish flag chart is targeting $3,000. A large potential sales wall is available at around $2,800, with 7.1 million ETH online.
The price of Ether increases above the price base
According to data from TradingView, the price of Ether rose 21 percent to $2,340 on Monday, from a local low of $1,940 on March 29.
Data from Glassnode shows that this rally is when ETH rises above its realized value or the average cost basis of all ETH moved is currently at $2,320.
Related: Ethereum Foundation Sells Another 10,000 ETH to BitMine in Third OTC Deal
The average ETH owner returning to profits after unexpected losses would provide meaningful financial relief for many owners, and perhaps a grim outlook.
Historically, a break above this level shifts market sentiment from fear to greed, reducing selling pressure for underwater holders. This often attracts new buyers and short squeezes, fueling high momentum.
As the chart below shows, the price regained its proven value in May 2025 after trading below it for two months, rallying 173 percent to $4,950, up from $1,800. Since ETH/USD regained its cost base in early 2023, the gain was 58%.
Ethereum: key price levels. Source: Glassnode
So holding more than $2,300 for bulls and a He can retry for $3,000..
Analytical Count-Defi he said. A break above $2,400-$2,600 would bring “the strongest move of the year” to $3,000.
Once we break $2,400, we will hold on to $2,800 – $3,000.
ETH/USD Weekly Chart. Source: X/Dami-Def
According to Cointelegraph reportedThe ETH/USD pair needs to overcome resistance at $2,400 to confirm a trend reversal.
ETH price technical analysis: bull flag targets $3,000
Ether's price action has formed a bullish flag chart pattern on the daily chart (see below). The price is testing resistance at $2,350, where the flag's upper bound and the 100-day exponential moving average (EMA) meet.
A daily candle closing above this level would pave the way to the measured target at $3,018, which is approximately 30% of the current price.
ETH/USD 12-hour chart. Source: Trading view
The daily relative strength index rose to 56 from a sell-off of 36 at the end of March. ETH bulls will return to the market.
Trader and analyst Kohlson David he said. A broad wedge pattern on the 12-hour chart pushes ETH's price towards $3,000.
ETH/USD 12-hour chart. Source: X/Cohelson David
However, ether Cost base distribution data It shows that investors are holding about 7.1 million ETH at an average cost of $2,750 to $2,850, creating resistance.
This focus suggests that many investors may sell during the breakout, which could curb Ether's upward movement.
Ethereum cost base distribution chart. Source: Glassnode
