$ETH It’s currently stuck, repeatedly probing around $2700. Analyst Ali says as long as $2640 holds, the bullish structure hasn’t broken. Once a closing on the hourly timeframe holds above $2700, the $3000 upside opens directly.
Where is the biggest short-term hurdle? In the 2700 to 2800 range is the most densely traded “supply wall” from the past—more than 13.3 million ETH have piled up there, creating significant sell pressure. If you want to push through, you have to increase volume and forcefully absorb it. The good news is that institutional capital is continuing to buy—last week Ethereum spot ETFs saw net inflows of $690 million, and BlackRock’s ETHA alone took $326 million.
Even more confidence is now well established. ETH staking ratio has surged to a historic high of 32%—over one-third of the circulating supply is locked up, leaving only 3.49% of ETH on exchanges. The tighter the supply, the greater the price elasticity once demand kicks in.$MOVR
BitMEX founder Arthur Hayes said outright: ETH is his second-largest position. Once it breaks above $3,000 and forms a reflexive upswing, it could quickly shoot toward $5,000.
When will it break through? Institutions are buying, supply is shrinking, and the technical picture is building momentum. The key is whether that wall at 2700–2800 can be chewed through by buy orders. If it breaks, $3,000 is the next stop.
Of course, the market is never 100%. The 2700 level may not hold; a pullback to 2640 or even lower is certainly possible. Stay alert—don’t get carried away.$ARK
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