Ethereum Eyes $3,000 as Technicals and On-Chain Data Signal Bullish Momentum

Ethereum (ETH) is showing some of its most bullish signs in recent months, setting the stage for a potential breakout above $3,000. Currently trading near $2,670, ETH has firmly reclaimed key moving averages, including the 50, 100, and 200-day lines—an important technical milestone often associated with sustained upward trends.

The asset’s price structure is supported by steadily rising higher lows and improved momentum. While trading volume has tapered since early June, this may indicate a reduction in selling pressure rather than weakness. Lower volume during consolidation can suggest growing buyer interest and a shift toward accumulation, especially ahead of a breakout.

Further reinforcing the bullish case, Binance data revealed a significant outflow of Ethereum over the past month. From June 1 to July 1, over 285,000 ETH—approximately 5.34% of the platform’s Ethereum holdings—were withdrawn. Such withdrawals are typically viewed as a signal of long-term investor confidence, with users moving assets to private wallets and reducing exchange supply.

On-chain indicators remain favorable. The Relative Strength Index (RSI) has climbed to around 60, indicating positive momentum without crossing into overbought territory. This leaves room for additional gains before any overheating concerns arise.

If Ethereum can break past the recent resistance at $2,700, it could catalyze the next leg toward the psychological $3,000 level. With improving technicals, declining exchange supply, and stable market sentiment, ETH is well-positioned for further upside—as long as Bitcoin avoids major pullbacks. Traders should monitor key resistance zones as the broader crypto market enters a potentially decisive phase.