Ethereum is back at capturing the market attention with its price trend, onchain dynamics, and fundamental strength. With Bitcoin trading sideways after its all-time highs, Ethereum could be poised for a potential breakout. In this write-up, we talk about the top reasons why the Ethereum price rally is on the cards.
Crypto analyst Lark Davis, in his recent post, cites that ETH is back in business, and the data proves it. Since the 8th of May, ETH’s trading volume has shown a sustained uptrend, indicating a rise in both buying and selling activity. Unlike previous phases of stagnation, traders are back and active.
Additionally, whale accumulation is building a solid floor. While unconfirmed directly, on-chain signals and large wallet behaviors suggest heavy ETH buying, possibly in anticipation of future price rallies or institutional inflows.
Importantly, the post also highlights that Ethereum’s comparative strength against Bitcoin is a standout. Even as BTC traced back from its all-time highs, ETH has held firm, signaling resilience. This independent performance is often a bullish signal, suggesting ETH may lead the next market leg higher.
Furthermore, Ethereum’s 76% dominance in the tokenized asset space, boosted by stablecoin growth and active wallets, underpins its leadership role in the broader crypto ecosystem. This network strength continues to attract capital and developer attention.
Despite a minor 1.29% dip in the last 24 hours, ETH at press time trades at $2,608.70, still up over 45% in the past month. Its 24-hour trading volume has surged 9.14% to $17.75 billion, while its market cap stands at $314.79 billion.
The chart shows ETH forming a higher low structure and holding support above key EMA20 at $2,522 and EMA50 at $2,320. Price action remains within a horizontal channel, with a clear resistance around $2,787.
Should ETH break above the $2,787 resistance with volume, the next leg could target $3,000 and beyond. Given its strong fundamentals and technical setup, ETH offers an asymmetric long opportunity, especially if Bitcoin remains neutral or bullish.
Also read our Ethereum (ETH) Price Prediction 2025, 2026-2030!
ETH has shown stronger percentage performance as BTC consolidates, driven by volume and relative strength.
The critical resistance to watch is $2,787. A breakout above this could trigger a rally.
The price of 1 ETH at the time of press is hovering around $2,608.70 with an intraday change of -1.29%.
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