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Ethereum leads with a 2.3% gain, nearing key resistance at $2,700.
ETF inflows hit $38.77M, boosting investor confidence.
A breakout above $2,700 could target $3,000, but resistance remains.
Ethereum (ETH) has made a decisive move in the crypto market this week, leading the top 10 digital assets with a strong 24-hour gain of 2.3%, pushing the price to $2,632 as of May 28, 2025. This surge has brought ETH within striking distance of the long-watched $2,700 resistance, a level it has struggled to breach in recent weeks.
The price action marks a recovery from last Thursday’s dip to around $2,500, driven largely by renewed investor sentiment and broader optimism for altcoins. The momentum now places Ethereum at the cusp of breaking key technical barriers that could pave the way for a significant rally toward $3,000.
Ethereum is exhibiting a bullish yet cautious setup as it hovers just below a long-standing resistance zone. The daily chart paints a picture of gradual accumulation and breakout attempts.
Current Price: $2,632
Resistance Zone: The $2,700 - $2,800 region has proven difficult to break. ETH has tested this area multiple times since mid-May, producing upper wicks and intraday rejections. This suggests that sellers are defending the range aggressively, but the consistent retesting implies building bullish pressure.
Support Levels: ETH has formed a short-term ascending triangle, with higher lows tightening beneath horizontal resistance. Recent pullbacks have found buyers near $2,467 (20-day EMA), which aligns with the triangle's lower trendline. The $2,259 (100 EMA) and $2,247 (200 EMA) represent progressively stronger layers of support.
Volume & Candlestick Structure: Bullish engulfing candles on May 24 and May 27 highlight strong intraday recoveries. If ETH closes above $2,700 with volume confirmation, a breakout toward $2,880 - $3,000 becomes increasingly likely.
RSI (14): The Relative Strength Index sits at 65.86, signaling bullish momentum without entering overbought territory. The RSI has been steadily rising since May 24, mirroring price action and suggesting active buyer interest.
Outlook: If bulls manage to secure a daily close above $2,700, Ethereum could target $3,000 as the next key level, followed by a potential extension to $3,280 as projected by technical analysts. Failure to break out may result in ETH consolidating between $2,470 and $2,700.
Ethereum’s price action is also occurring in the shadow of macroeconomic events. This Friday’s Core PCE report, a key inflation gauge closely watched by the Federal Reserve, could influence both traditional and crypto markets.
If the inflation data supports the Fed's narrative, risk-on assets, such as Ethereum, could see renewed buying pressure. A more aggressive inflation outlook, however, could prompt caution and cap short-term upside.
Ethereum recently broke above its Realized Price of $1,900, which means the average ETH holder is now back in profit. This psychological threshold typically reinforces bullish sentiment and may reduce immediate sell pressure from holders seeking to exit losses.
ETH’s rise above its True Market Mean, currently near $2,400, is a bullish sign of improving investor conviction. However, a stronger resistance cluster lies near $2,800, where many long-term holders have their average cost basis.
As ETH nears this level, increased selling is possible as traders and institutions look to “de-risk” or secure profits. Reclaiming the Active Realized Price of $2,900 remains key for further confidence.
According to SoSoValue, on May 27, the total net inflow of Ethereum spot ETFs was $38.77 million, marking the seventh consecutive day of net inflows. The Ethereum spot ETF with the highest single-day net inflow was BlackRock's ETF ETHA, with a single-day net inflow of $32.48 million.
As of now, the total net asset value of Ethereum spot ETFs is $9.59 billion, with an ETF net asset ratio (market value as a proportion of Ethereum's total market cap) reaching 2.98%. The historical cumulative net inflow has reached $2.80 billion.
Also Read: Ethereum Holds Ground at $2,500 Following Strong Rally
While Ethereum’s near-term prospects look strong, the climb to $3,000 may not be linear. The key challenges ahead include:
Breaking through the $2,700 - $2,800 resistance cluster
Overcoming possible sell pressure from long-term holders at breakeven levels
Navigating market sentiment shaped by macroeconomic data
That said, Ethereum remains one of the strongest contenders in the current crypto market, both in terms of fundamentals and technicals. With ongoing ETF inflows, increasing institutional adoption, and a maturing Layer 2 ecosystem, ETH’s long-term narrative remains intact.
Ethereum’s recent price action has reignited bullish enthusiasm, especially as it outperforms its large-cap peers in daily gains. As ETH approaches the critical resistance around $2,700 - $2,800, a successful breakout could fuel a fresh rally toward $3,000 and beyond.
However, traders and investors should stay alert to macroeconomic signals and potential rejection zones. For now, ETH remains in a strong position, but confirmation through volume and breakout strength will be essential for the next leg up.
Also Read: Ethereum Flashes Bullish Signs: Will It Break Past Resistance?
