Ethereum (ETH) Price Rally Potential

Ethereum (ETH) price may be set for a further rally, with on-chain data and market activity suggesting a possible rise to $3,400.

Notably, this may happen soon, provided it holds above key support levels. Analysts and market observers are closely watching recent whale movements.

ETF inflows and cost-basis distribution are also observed for clues about where the price might go next.

Cost Basis Distribution Shows Strength Around $2,750

According to a recently released data by Glassnode, Ethereum broke out above $2,700, occurring with the 200-week moving average acting as a key support level.

Per the update, the cost-basis distribution shows 1.3 million ETH held between $2,700 and $2,740 and 800,000 ETH at $2,760.

This level has been tested since March 2025, when $1,890 was considered a critical price point.

The chart also highlights that Ethereum (ETH) has experienced 53% green days in the last 30 days, with volatility measured at 2.29%.

These signals, while moderate, show that the market has leaned toward steady gains rather than sharp swings.

The resistance was near $2,832, but analysts believe that holding above $2,750 could trigger a price surge to $3,500.

Whale movements have also added weight to this outlook. For example, Lookonchain reports that in the past 24 hours, one wallet pulled 13,037 ETH, worth about $35.5 million, all from Binance.

In a more aggressive move, Abraxas Capital collected 44,612 ETH, amounting to around $123 million, from Binance and Kraken over 14 hours.

This accumulation suggests that larger investors believe Ethereum (ETH) has strong potential at its current price range.

Ethereum (ETH) ETF Market Logs 14 Days of Inflows

Fresh momentum in the Ethereum ETF market is also boosting confidence.

According to Farside Investors, there has been a 14-day inflow streak into Ethereum ETFs, showing $125 million in net inflows as of June 10.

This streak has been driven mainly by BlackRock’s ETHA and Fidelity’s FETH, which have accounted for over 80% of net inflows since July 2024.

Grayscale ETH and Bitwise ETH recorded $9.7 million and $8.4 million, respectively, on June 10.

These inflows are tightening supply, especially with 70 million ETH already staked following the live deployment of the Pectra upgrade earlier this quarter.

Some market participants believe that the SEC’s recent approval of ETF options trading has contributed to the situation, increasing investor confidence, particularly among institutions.

Outlook Remains Bullish, But Support Must Hold

Per the current bullish outlook, the question remains: where is the Ethereum price heading?

As of this writing, Ethereum (ETH) price was trading above the 200-day exponential moving average and appears to form a bullish flag pattern.

Market data shows that ETH price was trading at $2,770.06, up by 2.28% in 24 hours. If the price breaks above $2,870, a push toward $3,500 could soon follow.

However, traders are advised to monitor key levels closely, as a failure to maintain the $2,750 support could result in Ethereum retesting $2,600 or lower.

On the upside, sustained support, continued ETF interest, and large-scale accumulation could all fuel a rally to $3,400 by mid-2025.

With strong support, reduced selling pressure, and institutional inflows, Ethereum is well-positioned for a significant price swing.