Ether’s (ETH’s) Monday surge of $2,390 pushed its price above the realized value, implying that ETH holders are back to profit. Is this good enough to get the ETH bulls up to $3,000?
Takeaways from the conference:
- The chances of further upside are increasing for Ether holders.
- Ether bull flag pattern targets $3,000.
- Around $2,800 is a big possible sell wall, and 7.1 millions ETH are on the line.
Price of Ether rises beyond its cost basis
TradingView’s data indicates that Ether rose 21 percent to $2.340 from the local low price of $1.940 on March 29, according to TradingView.
Glassnode’s data indicates that ETH is currently trading above its average cost base, or realized price.
Related: Ethereum Foundation sells another 10,000 ETH to BitMine in third OTC deal
Many holders will feel a sense of relief and a positive outlook when they see their average ETH holder return to profitability after realizing unrealized losses.
Historically, breaking over this level has changed the market’s sentiment, from one of fear to that of greed. It also reduces sell pressure by holders in underwater positions. This can fuel bullish momentum by attracting buyers or short squeezes.
Chart below shows how the price rose 173% from its $1,800 all-time low to $4,950 in May 2025, after having traded below that price for about two months. After ETH/USD reclaimed the cost basis at early 2023, gains of 58% were recorded.
Ethereum’s key pricing levels. Glassnode is a source for information.
For bulls, it is essential to hold above $2300. potential retest at $3,000.
Analyse Dami-Defi said If the break was above $2,400 or $2,500 then the “most violent move of the year” toward $3,000.
“Once we break $2,400 we will catapult violently to $2,800 – $3,000.”
Weekly chart of ETH/USD. Source: X/Dami-Defi
Cointelegraph reportedETH/USD must surpass resistance at $2400 in order to confirm a change of trend.
Technical Analysis of ETH Price: Bull Flag Targets $3,000.
Ether has been forming a chart bull flag pattern. (See below). Price is retesting $2,350, the resistance level where the upper border of the bull flag and the 100 day exponential moving average (EMA), converge.
If the daily candlestick closed above this mark, it would allow the price to rise towards the target of $3 018, or roughly 30% higher than the current level.
ETH/USD 12-hour chart. Source: TradingView
It is possible that the daily index of relative strength has increased from 36 to 56, indicating that conditions are now more balanced. ETH bulls are returning The market.
Cohelson, David (Trader and Analyst) said ETH is expected to break out towards $3,000 based on a widening wedge chart.
ETH/USD 12-hour chart. Source: X/Cohelson, David
However, Ether’s cost basis distribution data Investors hold approximately 7.1 millions ETH, with an average price of $2,750 to $2,850. This creates a possible resistance zone.
It is possible that investors will sell Ether when it reaches breakeven. This could halt Ether’s growth.
Ethereum Cost Basis Distribution Chart Source: Glassnode
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Source: cointelegraph.com
