• Ethereum is trading near $2,700, with a potential breakout above $2,750 targeting $3,300.
• Futures liquidations of $52.12 million reflect the volatility surrounding Ether’s major resistance point.
• The impending $2.4 billion options expiry on the 30th of May might strongly influence Ethereum’s price trend.

Ethereum (ETH) is currently trading near the $2,700 level, with analysts closely monitoring a potential breakout above the crucial $2,750 resistance. A decisive move above this threshold could ignite a powerful rally toward $3,000 and possibly $3,300, as suggested by crypto analyst Nilesh Rohilla.

Rohilla pointed to a bullish structure forming on Ethereum’s weekly chart, with momentum gradually building in favor of the bulls. He emphasized that converting $2,750 from resistance to support could pave the way for a rapid surge. Technical indicators now reflect an increasingly favorable setup for a multi-week uptrend.

In the past 24 hours, Ethereum experienced a total of $52.12 million in liquidations, as reported by Coinglass. The total consists of $34.6 million in long positions and $17.48 million in short positions. These liquidations reflect the volatile atmosphere as ETH struggles to regain control at a critical resistance range.

Following the rebound from the $2,500 support on Monday, ETH gained almost 8% before it was rejected once more, but this time only above $2,700. This action reaffirmed the importance of the resistance at $2,750. Ethereum has consolidated at the $2,600 area ever since, which shows a confrontation between bullish sentiment and bearish pressure.

An extended rally calls for Ethereum bulls to breach the resistance level of between $2,750 and $2,850. Otherwise, the market can stay in the consolidation phase. Downside is assisted by the rising trendline underpinned by the 50-period EMA, which can act as temporary support in the event of increased selling.

Around $2.4 billion in ETH options are expiring on May 30, an event that is most likely to reinforce ETH’s latest breakout effort. Closing above $2,700 would represent the first such outcome in more than three months, which would make the result of the options expiry determine ETH’s immediate trend.

Despite the rally, ETH is still down 21% in 2025, coming second to the overall crypto market’s 5% upsurge. Bulls are hopeful to sustain prices above the level of $2,600 ahead of the options expiry. However, Ether’s on-chain data raises concerns about the rally’s long-term strength.

Although Ethereum is increasingly being competed against by cheaper and speedier blockchains, it retains a significant advantage in its US-listed spot ETF. These funds attracted $287 million of net inflows from May 19 to 27, indicating increased institutional demand even as ETH network activity continues to trend lower.

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