Ethereum Holds Above $2,500, Eyes $3,007 Resistance

Ethereum has shown remarkable resilience, maintaining its price above the $2,500 mark. Traders are closely monitoring the cryptocurrency as it approaches the $3,007 resistance level, which, if breached, could signal a bullish continuation. This level has historically been a pivotal point for Ethereum, and its current stability above $2,500 suggests a potential breakout.

Ethereum's price action has been characterized by a period of consolidation, with the cryptocurrency trading between the support level of $2,108.74 and the resistance level of $3,007.31. This range has been tested multiple times since April 2024, but each attempt to break through has failed to sustain momentum. According to data from DaCryptoGeneral, this pattern indicates a continuation setup, with the potential for a breakout if trading volume expands.

Ethereum's current price is above the 50-day moving average, which has transitioned from a resistance level to a support level. This shift invalidated the previous downtrend and established a new uptrend structure. The cryptocurrency's ability to maintain its price above this dynamic level is a positive sign for its future performance.

Ethereum continues to dominate the decentralized finance (DeFi) sector, with a total value locked (TVL) of $63.42 billion, representing 55.87% of the market share. This dominance positions Ethereum as the most trusted and heavily utilized blockchain for DeFi applications. Solana ranks second with 7.43% of the market share, while Bitcoin holds 5.71%, and Binance Smart Chain accounts for 5.28%. Newer chains like Base and Arbitrum contribute smaller shares, but none approach Ethereum’s scale or liquidity. The long-tail of “Other” chains adds up to just 11.6%, underscoring Ethereum’s dominant position.

Ethereum's leadership in the DeFi sector reflects its network maturity, developer activity, and market confidence. It remains the primary settlement layer for smart contracts, lending protocols, and decentralized exchanges. As capital continues to flow into Ethereum, its position at the top remains undisputed.

Traders are now bracing for Ethereum's next leg toward the $4,000 resistance level. According to CryptosBatman, Ethereum has reclaimed the 50-day moving average, flipping it from resistance to support. This pattern has historically signaled directional shifts and aligns with Ethereum’s recent bullish trend. The price is currently consolidating just beneath the $3,007.31 resistance level, which many traders are tracking as the breakout trigger. If this level is cleared, it could open the door toward the $4,087.78 and possibly the $4,400.00 resistance levels in the coming weeks. As long as Ethereum holds above the $2,467 support level, the bullish case remains intact.