With bullish momentum accelerating, Ethereum is now approaching the key $3,000 level and may surpass it before the end of the month.

Ethereum Price Today Surges Past $2,800 on ETF Inflows

Ethereum’s price climbed to a high of $2,821.56 on July 10, the strongest level recorded since June 12. This upward momentum was largely driven by a renewed surge in demand for Ethereum spot ETFs, particularly in the United States. According to data from July 9, inflows into Ethereum ETFs spiked to $211.32 million, marking the second-largest daily increase since February.

Ethereum (ETH) was trading at around $2,822, up 4.01% in the last 24 hours at press time. Source: Ethereum Liquid Index (ELX) via Brave New Coin

This comes as part of a broader recovery in the crypto market, with Ethereum outperforming several major altcoins over the past 24 hours. ETH/USD rose nearly 5%, solidifying bullish sentiment in the short term.

Despite some early profit-taking, analysts are watching key resistance and momentum indicators closely to determine whether this breakout will hold.

Ethereum Chart Analysis: RSI and Structure Signal Bullish Continuation

Technically, Ethereum has broken out of a multi-month symmetrical triangle, a pattern that started in Q1 2025. The previous breakout occurred when ETH broke above the triangle’s apex at approximately $2,770 and retook structural resistance at $2,790. This is supported more by a bullish Break of Structure (BOS) on the Smart Money Concepts chart model.

Ethereum is forming a classic inverse head and shoulders pattern with bullish indicators aligning, targeting a potential breakout toward $3,000 and beyond. Source: Guapeva on TradingView

One of the important indicators to watch is the 14-week Relative Strength Index (RSI) at 56.6. The RSI has not fallen below 56.8 since December 2024—when Ethereum last tested prices above $3,000. Should the RSI cross higher into the 57–60 region, it would confirm a continuation of the trend to the upside and leave the $3,000 level vulnerable for retesting.

ETF Momentum and Staking Fundamentals Add to Bullish Outlook

Aside from technical factors, Ethereum ETF news remains a major driver of investor interest. The sudden increase in spot ETF inflows is a sign of institutional accumulation, which usually comes ahead of larger price action. Barring momentum, Ethereum’s ETF approval timeline may turn into a key narrative over the course of July and August.

Furthermore, Ethereum’s long-term fundamentals remain strong. Staking rewards, validator activity, and Layer 2 adoption continue to increase. These kinds of ecosystem metrics help to provide price support, especially in the case of bullish trend reversals.

Ethereum gas fees, although currently modest, may rise if network activity gathers pace alongside prices, still influencing on-chain dynamics.

Layer 2 Ecosystem Expands as L2 TVL Climbs

Ethereum’s Layer 2 networks, such as Arbitrum, Optimism, and zkSync, continue to show transaction volume growth and total value locked (TVL). Not only do these solutions help scale Ethereum, but they also drive new capital into the system. With L2 TVL growing, Ethereum benefits from increased network utility and revenue through fees.

Layer 2 development on Ethereum remains an important metric to track, particularly as developers look towards subsequent upgrades such as the Dencun release in late 2025.

Ethereum Price Prediction: Is $3,000 the Next Stop?

With current momentum, most traders expect Ethereum to reclaim the $3,000 level within the month—a level not visited since the beginning of 2024. The symmetrical triangle bullish breakout and ETF inflow acceleration are a good setup for additional gains.

Ethereum is reclaiming a key macro EMA level, with compressed EMAs signaling an impending breakout. Source: Masterolive on Tradingview

However, traders need to be vigilant regarding potential resistance at $2,850 and $2,900. It’s only a clean breakout above $2,950 that will provide a clean move above $3,000.

If Ethereum converts $2,800 into support and RSI continues to rise, a rally to $3,200 cannot be discounted in the near term.

Looking Ahead: Ethereum Outlook Remains Bullish

The combination of ETF flows, technical breakout patterns, and growing Layer 2 usage places Ethereum into a favorable setup during July. If momentum continues to be upward and on-chain metrics continue to improve, Ethereum can overtake Bitcoin in the short term and restore a leadership position in the broader crypto rally.

Volatility remains a factor, as always with markets, but Ethereum’s price prediction now is bullish—potentially setting up for a breakout summer.