Ethereum Investors Enter Profit Zone...Preparing to Break $3,000?

▲ Ethereum (ETH)

Ethereum (ETH) has entered the profit zone, surpassing the average purchase price of investors. Simultaneously, the possibility of a rally towards the $3,000 mark has been raised.

According to cryptocurrency media outlet Cointelegraph on May 4 (local time), Ethereum's price showed a strong rebound, rising 21% from its low of $1,940 recorded on March 29 to $2,340. Data from on-chain data analysis firm Glassnode shows that Ethereum's realized price is currently estimated at $2,320. As Ethereum's price rose above the realized price, which is the average purchase price of all circulating supply, the majority of investors have exited the unrealized loss zone and entered profit.

Past instances show that when Ethereum reclaimed its realized price, market sentiment shifted from fear to greed, leading to explosive gains. In May 2025, after recovering its realized price, Ethereum surged 173% from $1,800 to $4,950, setting a new all-time high. In early 2023, it also recorded a 58% return after recovering its realized price. Therefore, the current move to defend the $2,300 level is expected to be the most crucial technical support base for reclaiming $3,000.

Analyst Dami-Defi predicted that if Ethereum breaks through the resistance level between $2,400 and $2,600, it will see its strongest movement this year. Dami-Defi analyzed, "The moment it surpasses the $2,400 level, an explosive buying spree will rush in, quickly pushing it up to the $2,800 to $3,000 range." Currently, a bull flag pattern has formed on the daily chart, and breaking above $2,350, where the 100-day moving average meets the upper resistance line of the pattern, is considered a key short-term task.

The Relative Strength Index (RSI), a secondary indicator, rose from an oversold level of 36 in late March to its current 56, signaling that buyers have reclaimed market dominance. Analyst Cohelson David observed an expanding wedge pattern on the 12-hour chart, diagnosing that this indicator foreshadows a breakthrough towards $3,000. However, with approximately 7.1 million ETH concentrated in the $2,750 to $2,850 range, there is a possibility that break-even selling pressure could slow down the uptrend.

The Ethereum Foundation engaged in asset management by selling an additional 10,000 ETH through a third over-the-counter (OTC) transaction with BitMine. Despite the Foundation's supply of ETH, the market maintains upward pressure based on the psychological support of breaking the realized price. With the technical setup for a $3,000 breakthrough complete, investors are closely watching whether the $2,400 resistance level can be established, anticipating the full-scale unfolding of a new upward cycle.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*