The price of Ethereum has risen by 46% over the past 30 days, with analysts anticipating a breakthrough for the cryptocurrency. The surge is attributed to sustained demand for spot ETFs and a strengthening market structure.
At the time of writing, the cryptocurrency is trading at $2630.
Michaël van de Poppe, founder of MN Trading, stated that Ethereum is “ready for a significant upward breakout.”
$ETH appears poised for a significant upward breakout. pic.twitter.com/OjBE6h87pr
— Michaël van de Poppe (@CryptoMichNL) June 3, 2025
The key support is around $2400, with resistance between $2680 and $2850. According to him, the coin’s price must surpass this level to reach a new annual high.
Analyst Rekt Capital noted that Ethereum is attempting to establish $2500 as support.
Ethereum is trying to reclaim $2500 as support and solidify it as the new Range Low of the $2500-$4000 Macro Range (black-black)
Ethereum is trying to repeat history and position itself in a similar way to the green circled retest of mid-2021#ETH #Crypto #Ethereum https://t.co/QWrvwwDrbe pic.twitter.com/z2LdB5Oxen
— Rekt Capital (@rektcapital) June 2, 2025
If successful, Ethereum could rise to new all-time highs, similar to mid-2021.
Analyst Crypto Eagles believes Ethereum’s price is mirroring the technical structure of 2016-2017. In his view, the asset will “easily surpass the $6000 mark.”
$ETH Giant Fractal Is Screaming
Range → Shakeout → Breakout → Parabola
We’re seeing the same structure play out almost candle for candle
Only difference now
The base is 100x larger
The fundamentals are 10x stronger$5k — $6k EASY THIS CYCLE pic.twitter.com/WZYJKV913m
— Crypto Eagles (@CryptoProject6) June 2, 2025
The ETH/BTC pair is trading around 0.02499, which is 41.5% above the multi-year low of 0.01766 reached on April 22.
Trader Daan Crypto Trades pointed to the consolidation of ETH/BTC within the 0.022-0.026 range.
If you want to track how altcoins are likely to perform relative to $BTC, one of the main factors will be the $ETH/BTC chart strength.
After the recent squeeze, it has been consolidating between this ~0.022-0.026 range.
If it were to break above that, it should temporarily give… pic.twitter.com/225kWbRGuH
— Daan Crypto Trades (@DaanCrypto) June 3, 2025
In his view, a breakout above this level “will temporarily give another boost to ALT/BTC pairs.” The strength of the ETH/BTC chart will be a key factor in the performance of altcoins relative to Bitcoin.
In recent days, institutional investors have shown a preference for Ethereum over Bitcoin. Spot Ethereum ETFs in the US have recorded net inflows for 12 consecutive days.
According to CoinShares, from May 24 to May 30, inflows into cryptocurrency investment funds amounted to $286 million, thanks to $321.4 million flowing into Ethereum-based instruments.
In May, Bernstein analysts identified three main factors driving Ethereum’s growth.
In a new ForkLog digest, the reasons why May was a month of meaningful progress for the second-largest cryptocurrency by market capitalization are explored.