Ethereum Price Holds at $2,461, but Analysts ‘Expect More Chop’ Until Breakout From $2,227–$3,385...

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."

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.

Source: CryptoQuant(X)

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.

Source: MerlijnTheTrader(X)

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.