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The Ethereum price surged 7% in the past 24 hours to trade at $2,964 as of 12:27 a.m. EST, with trading volume surging 40% to $39.4 billion.
This ETH price rise comes as net daily inflows into Ethereum ETFs (exchange-traded funds) reached $383 million, the highest since early December, according to Farside data.
Ethereum Price Breaks Out From Consolidation Zone
The ETH price on the 3-day chart has officially transitioned into a bullish structure following a breakout from a rounded bottom formation. This classic reversal pattern suggests a shift in market sentiment from bearish to bullish.
The rounded bottom began forming around the $1,740 level and steadily curved upward over several months, indicating a slow but sustained accumulation phase, as GeckoTerminal data shows.
After completing the rounded bottom pattern, the Ethereum price entered a consolidation phase just below the $2,600–$2,880 resistance range.
That consolidation move arrived with a powerful bullish breakout candle, launching the price to $2,964.17, a sharp 13.32% gain, and confirming the end of the range-bound price action.
Effectively, this surge has taken the price of Ethereum above key levels, including the psychological $2,800 zone and the prior swing high at $2,883.
The chart also shows bullish confluence with Fibonacci retracement and extension levels, particularly the 0.618 retracement around $2,613, which acted as a major support for the breakout.
As a result of the recent surge, ETH has finally crossed above both the 50 and 200 Simple Moving Averages (SMAs) on the 3-day chart, cementing the bullish outlook.
Additionally, the Relative Strength Index (RSI) is currently reading 66.83, which places it in strong bullish territory without yet being overbought. This level also suggests that the RSI still has room for upward movement.
Meanwhile, the Moving Average Convergence Divergence (MACD) has also turned bullish, with the blue MACD line crossing above the orange signal line, and both above the zero line.
WETH/USD chart analysis (Source: GeckoTerminal)
ETH Hints At A 20% Surge
With the breakout from the rounded bottom and consolidation range confirmed, the chart now shows the next target is at the $3,588 level, which is the 0.618 Fibonacci extension target and a key resistance zone from previous price history.
That marks a potential 20.93% upside from the current price.
Conversely, if the bears take charge of the asset, the 0.382 Fib level is at the $2,447 support zone.
Meanwhile, as the ETH price surges, investors are flocking to the presale of Best Wallet (BEST), a rising star in the cryptocurrency wallet space.
Crypto Boy, a popular crypto analyst on YouTube with over 61.5K subscribers, says BEST is one of the cryptos to buy now.
Best Wallet Token Presale Closes On $14M – Best Crypto To Buy Now?
Best Wallet is a decentralized, non-custodial wallet designed to simplify crypto management.
It’s a tool that lets users buy, sell, store, and trade over 1,000 tokens across more than 60 blockchains – all from one user-friendly mobile app.
Whether it’s Bitcoin, Ethereum, Solana, or Dogecoin, Best Wallet can handle swaps with low fees.
The Best Wallet token presale has raised over $13.8 million in early funding, which shows continued support from investors.
Moreover, Best Wallet is now WalletConnect Certified, officially joining other leading wallets at the forefront of changing the on-chain standard for faster connections, smoother sign-ins, and a better experience for every user.
The “Upcoming Tokens” feature is a standout and has already spotlighted high-potential presales like Pepe Unchained (PEPU) and Catslap (SLAP), which delivered massive returns for early adopters.
⛽️ What are gas fees in crypto?
Gas fees are the transaction costs users pay to perform actions on blockchains like Ethereum. These actions can include sending ETH, swapping tokens, or interacting with smart contracts. 🖥️
The fee goes to validators who process and confirm the… pic.twitter.com/166bsJs8WQ
— Best Wallet (@BestWalletHQ) July 8, 2025
What’s more, BEST holders enjoy perks like reduced fees, an up to 99% staking APY, governance rights, and priority access to new projects.
Priced at $0.025315, BEST is available via the project’s official website using crypto or bank cards. But the price will rise in approximately 35 hours, so investors will want to hurry to lock in the best presale deal.
Check out BEST on its official website.
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