ETH Faces Heavy Sell Wall at $2,790, A Breakout Could Trigger the Run to $4,000

Ethereum faces strong resistance at $2,790; a breakout could push price toward $4,000.

Institutional inflows into ETH ETFs rise, signaling growing investor confidence over BTC.

Technical patterns suggest a bullish breakout, with long-term targets between $10,000 and $12,000.

Ethereum is currently priced at $2,637.53, showing strength above key support levels. Analysts are now focusing on the $2,790 resistance zone, which marks a dense sell wall. A breakout above this range could trigger broader market momentum and lead to the next major upward move.

Accumulation Patterns and Breakout Levels

According to analysis prepared by Ash Crypto, Ethereum is following a Wyckoff accumulation pattern, suggesting a bullish setup is forming. The analyst identified $3,100 as the first major level to reclaim, with a projected correction before a run toward $4,000

Source: AshCrypto(X)

This, according to Ash Crypto, would set the stage for a rally that could target $10,000 during the current cycle. Michael van de Poppe, founder of MN Capital, noted that ETH is trading above key support near $2,400 on the six-hour chart

Source: MichaelVanDePoppe(X)

He pointed out resistance between $2,680 and $2,850, noting that a break above this zone could result in a new yearly high. Meanwhile, Rekt Capital suggested that Ethereum is attempting to repeat the breakout structure seen in mid-2021, holding $2,500 as a key range low.

Institutional Flows Favor ETH as Technical Setup Builds

Twelve consecutive days of inflows into U.S. spot Ethereum ETFs, including $109.43 million on June 3, signal rising institutional interest. BlackRock led the day’s inflows with $77.06 million. Meanwhile, Bitcoin ETFs saw outflows of $1.2 billion over the past week, reflecting a shift in market preference.

According to Captain Faibik, ETH is moving within a multi-year symmetrical triangle pattern forming in 2021. The apex is approaching, and a breakout is expected within one to two months. He stated that a monthly close above $3,500 would confirm the breakout. Long-term targets are set as high as $12,000.

Source: CaptainFaibik(X)

On-chain data from IntoTheBlock shows resistance between $2,726 and $2,856, holding 4.13 million ETH. A breakout above $2,790 could challenge these levels and set Ethereum on course for a broader rally.

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