Ethereum has regained an important technical and psychological level after ETH climbed back above the average cost basis of holders, placing many investors back into profit for the first time in months. The development is increasing optimism that Ether could continue pushing toward the $3,000 mark, although major resistance remains ahead near $2,800.
ETH surged to around $2,390 on Monday after rebounding strongly from its March low near $1,940. The move represents roughly a 21% recovery and has pushed Ethereum above its realized price, which currently sits near $2,320 according to Glassnode data.
The realized price reflects the average acquisition cost of all ETH that has previously moved on-chain, making it a closely watched metric for measuring overall market profitability.
Ethereum Investors Return to Profit
With Ethereum now trading above its realized price, the average ETH holder is no longer sitting at an unrealized loss. Analysts believe this could significantly improve market sentiment and reduce selling pressure from investors who were previously underwater.
Historically, reclaiming this level has often marked the beginning of stronger bullish phases for Ethereum. When ETH moved back above its realized price in May 2025 after spending nearly two months below it, the cryptocurrency eventually rallied around 173% from approximately $1,800 to its all-time high near $4,950.
A similar recovery in early 2023 also preceded a 58% rally.
Because of this historical behavior, analysts now consider the $2,300 region to be one of the most important support levels for Ethereum in the short term. Holding above that area could strengthen the chances of a broader move toward $3,000.
Crypto analyst Dami-Defi stated that a breakout above the $2,400 to $2,600 resistance zone could trigger what he described as the “most violent move of the year” for ETH. According to the analyst, clearing $2,400 may quickly accelerate momentum toward the $2,800 to $3,000 range.
Several analysts also noted that Ethereum must successfully overcome resistance around $2,400 in order to confirm a larger trend reversal.
Bull Flag Pattern Targets $3,000
From a technical perspective, Ethereum has formed a bullish flag pattern on the daily chart, a structure often associated with continuation rallies after strong upward momentum.
ETH is currently testing resistance near $2,350, where the upper boundary of the bull flag intersects with the 100-day exponential moving average. Analysts believe that a decisive daily close above this level could confirm the breakout and open the door for a move toward the pattern’s projected target near $3,018.
That target would represent roughly a 30% increase from current price levels.
Momentum indicators are also beginning to improve. Ethereum’s daily relative strength index has climbed to 56 after approaching oversold conditions near 36 in late March. This suggests buyers are gradually regaining control of the market.
Trader Cohelson David also highlighted a broadening wedge pattern forming on Ethereum’s 12-hour chart, which similarly points toward a potential breakout targeting the $3,000 level.
Large Sell Wall Could Slow ETH Rally
Despite the improving outlook, Ethereum still faces a major resistance zone that could temporarily slow bullish momentum.
According to Ethereum’s cost basis distribution data, investors currently hold approximately 7.1 million ETH between the $2,750 and $2,850 price range. Because many holders purchased ETH at those levels, analysts expect some investors may choose to sell once the price returns to breakeven.
This creates a potential sell wall that could delay or weaken Ethereum’s attempt to break above $3,000 in the near term.
While technical indicators and market sentiment are improving, traders continue monitoring whether ETH can maintain support above key levels and successfully absorb selling pressure as it approaches higher resistance zones.
