Ethereum just blasted past the $2,600 mark with a solid 3.36% intraday gain, and bulls are starting to lock their sights on $3,000. More than 69 million ETH are now in profit, which is only fueling the hype.
This rally didn’t come out of nowhere. With Bitcoin holding strong above $105K and the newly announced US-China trade deal boosting market confidence, Ethereum is riding the wave hard.
ETH supply on Exchanges Hits New Lows: A Bullish Signal?
Ethereum isn’t just climbing in price, it’s also quietly vanishing from exchanges. Recent data shows that investors are pulling large amounts of ETH off trading platforms, especially from Binance. This shift usually means one thing: long-term conviction. People aren’t looking to sell; they’re choosing to hold.
Crypto analyst Kyle Doops highlighted this trend by looking at Ethereum’s Exchange Supply Ratio. His research shows that ETH on exchanges is now at the lowest level in weeks. Historically, when supply tightens like this, price jumps tend to follow, demand goes up, supply goes down, and we get that classic squeeze.
With Binance acting as a key liquidity hub, this ETH outflow could be a sign of what’s coming next. Less ETH on the market means less selling pressure, and in a bullish market, that’s often a recipe for a strong price breakout.
Bulls Take Control as Ethereum Price Pushes Toward $3,000
Ethereum is going up fast, and bulls are clearly in the driver’s seat. Over the past week, the Ethereum price has climbed around 42%, easily breaking past key resistance levels and sailing above its 20, 50, 100, and 200-day EMAs. The momentum here is real.
Looking at the bigger picture, Ethereum is up 56% in the last 30 days, and its market cap has grown alongside it, now sitting at $287 billion. That’s a 42% increase in just one week. While the six-month frame still shows a dip, the recent rally suggests ETH is back on track for a big breakout.
On-chain Metrics Flash Green: Are We in the Early Stages of a Breakout?
Ethereum’s monthly chart is showing something pretty rare, a Dragonfly Doji, and that’s catching a lot of attention. This exact candlestick pattern showed up right before ETH’s massive 25,000% rally back in 2017.
What’s so special about it? It forms when there’s a long lower wick, barely any upper wick, and the price closes near where it opened, basically signaling that buyers are stepping in hard after a sell-off.
Right now, it looks like ETH is doing exactly that. The rejection of lower prices on the chart shows bulls are regaining control after a long downtrend. If May opens strong and breaks above April’s high of around $1,950, analysts say we could be looking at the start of a multi-month rally, with $2,100 as the next big target.
Ethereum Eyes $3,000, But It’s Not Alone
Ethereum’s momentum is undeniable right now; bullish charts, shrinking exchange supply, and strong market sentiment are all pointing to a potential breakout above $3,000. With whales getting active and on-chain signals flashing green, ETH could be gearing up for a major run.
But while ETH is making waves, Remittix (RTX) is quietly turning heads. This rising crypto-to-fiat payments project is already up 400% in presale, showing strong utility beyond just hype. If Ethereum is leading the charge, Remittix might be next in line to surprise the market.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
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