Ethereum remains range-bound between $2,227 and $3,385, with analysts expecting more sideways action.
Long-term holders are accumulating ETH, signaling strong conviction during the consolidation phase.
Institutional moves and bullish technicals hint at a breakout, with $2,700 seen as a key trigger level.
Ethereum’s recent price action has reignited interest following reports of a corporate treasury adding ETH to its balance sheet. Despite the shift in sentiment, the price continues to consolidate between $2,227 and $3,385, a range that has defined Ethereum’s movement for several weeks.
Price Remains in Consolidation Zone Despite Bullish Signals
As of writing, Ethereum was trading at $2,461.49, reflecting a 0.84% increase. However, this remains well within the established trading range. According to an observation by Ali Charts, "I expect more chop until we get a sustained close outside the $2,227–$3,385 range."
https://twitter.com/ali_charts/status/1940138841383276815
This sentiment reflects the view shared by several technical analysts. The $2,227 level has acted as strong support in recent months, with consistent buying pressure seen around this zone.
On the other side, $3,385 has been a critical resistance, which Ethereum has struggled to break above. Without a sustained close beyond these levels, traders are likely to remain cautious.
On-Chain and Institutional Activity Suggest Long-Term Confidence
Despite the tight price action, on-chain data shows increased accumulation by long-term holders. According to analysis prepared by CryptoQuant, wallets holding ETH for extended periods saw a rise in inflow during June’s consolidation phase. This trend suggests continued trust in Ethereum’s long-term prospects.
Institutional interest is also growing. Bit Digital and BitMine have shifted their strategies toward Ethereum. BitMine launched a $250 million private placement aimed at building a treasury focused on ETH. The move comes with Ethereum’s Petra upgrade already implemented and the Fusaka upgrade expected soon, both intended to enhance the network’s efficiency.
Technical analysts are also observing bullish signals. Merlijn The Trader noted a bullish MACD crossover and a rising base structure. “A clean break of $2,700… and $ETH will fly. $3,000 is just the beginning,” he added.
The post Ethereum Price Holds at $2,461, but Analysts ‘Expect More Chop’ Until Breakout From $2,227–$3,385 Range appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
