- Ethereum jumped nearly 19% this week, now trading at $3,021.18, with major resistance near $4,000.
- Over 35 million ETH are staked, creating a supply crunch and strong upward price pressure.
- BlackRock’s iShares Ethereum Trust holds 2M ETH, after a $386M inflow—the biggest of 2025.
Ethereum (ETH) has officially broken above its long-term resistance of $2,900, marking a significant bullish breakout. The move ends its months-long accumulation phase between $2,200 and $2,900. ETH surged over 15% this week, outshining Bitcoin’s 9% weekly gain in the same timeframe.
Crypto analyst Nilesh Rohilla highlighted this breakout as a key technical event. ETH has also moved above its 50-week moving average, reinforcing its bullish momentum. The price now finds solid support at $2,650 and $2,900, while overhead resistance sits at $3,450, $3,700, and $4,100.
Another strong signal came from the Relative Strength Index (RSI), which has broken out of its prior range. Rohilla said this indicator has preceded gains of 70% to 120% in past cycles. Ethereum’s current structure mirrors previous rally patterns from past accumulation zones. A breakout above $4,100 could mark the start of a parabolic phase in Q4 2025.
Also Read: Ethereum Price Nears $3K as ETF Inflows Hit Record Highs
On-Chain Scarcity Drives ETH Surge
Rohilla noted that more than 35 million ETH are now staked. This has produced a surging supply shortage, growing upward pressure on prices. As DeFi usage surges, staking keeps diminishing the circulating supply, bolstering Ethereum’s long-term value proposition.
GENIUS Act can facilitate the development of ETH without even mentioning ETH explicitly. In the event that stablecoins are launched under their direction by PayPal and Circle, then there can be growing on-chain demand that can benefit ETH. Clarity on regulations will draw more institutional players towards Ethereum.
Ethereum is trading at around $3,108, which is up almost 4.97% this week. BlackRock’s iShares ETH Trust now possesses more than 2 million ETH, equivalent to approximately 1.65% of the circulating supply. This was after big inflows, including a $386 million day rise, the best so far in 2025.
Ethereum Eyes $3,600 As Technical Strength Builds
Ethereum is testing the 61.8% Fibonacci retracement, a major technical level. As analysts predict that if ETH breaks above $3,220 and $3,470, the targets are at $4,000 and $3,500. If it surges above resistance near $3,100, the price could jump 17% to $3,600.
Over the past 24 hours, the total of ETH futures liquidated was $136.5 million, which was equally distributed between longs of $82.63 million and shorts of $53.87 million. If the bulls fail, ETH may find support at $2,850 or even bounce from $2,500.
Also Read: Ethereum Nears $3,000, Is a Massive Crash Coming?
