Ethereum Breaks $2,300 as Bullish Momentum Builds
Ethereum is exhibiting a blend of technical and on-chain indicators that experts suggest might signal the onset of a significant recovery. After several months, the dynamics of Ethereum’s price action seem to be tilting towards the bulls. The recent price movement has pushed ETH back above $2,300, establishing a framework that indicates the next phase is on the horizon. Crypto analyst highlighted Ethereum’s price action this week, noting three developments that collectively indicate the potential for a new upward movement may be taking shape. Ethereum has made a significant move, reclaiming its position above the 100-day simple moving average in recent price action. This level has served as dynamic resistance, persistently limiting upward movements since November 2025.
The breakout above it alters the chart’s narrative, indicating that buyers are beginning to reclaim dominance on higher timeframes. Second, a resistance zone that consistently turned away price during Q1 2026 has now been transformed into a support area. The chart shared by Ash Crypto illustrates a rising trendline originating from the February lows, providing support from below and forming a tightening range alongside a support zone, which culminates in an ascending triangle pattern. ETH has now surged past the upper boundary of that triangle and is currently probing the horizontal resistance band situated between $2,300 and $2,370. The analyst states that Ethereum’s next upward movement hinges on maintaining its position above the $2,300 mark.
As of this moment, Ethereum is priced at $2,316. The third major development is the resurgence of institutional inflows via US Spot Ethereum ETFs. In a notable development, US Spot Ether ETFs have seen inflows of $275.83 million in the latest week, marking their highest weekly inflow since the week that concluded on January 16. One of the most intriguing indicators of a shifting market landscape is found in the derivatives order flow data. During this cycle, Ethereum has encountered a consistently negative net taker volume. This metric gauges the disparity between buy and sell market orders on derivatives exchanges, with a negative reading indicating that sellers have been consistently dominating buyers.
The pattern has now reversed. According to analyst, buy-side volumes have seized control of the derivatives markets for the first time in this cycle, with a recent net taker volume reading of +$102 million. Ethereum last experienced buying pressure of this scale in the derivatives markets during the 2022 bear market, with ETH trading near the $1,000 mark. If this trend continues and buyers keep absorbing selling pressure, it may signal the initial phases of a more robust structural recovery for Ethereum.
