Ethereum Breakout Watch: Can It Push Through the $2,800 Wall? - Crypto News Flash

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* **Ethereum’s staking volume and accumulation wallets both hit record highs, signaling strong long-term conviction among network participants.*** **A breakout above the 50-day EMA may reignite Ethereum’s upward move, with $2,800 acting as the next major resistance.**---Ethereum is at an interesting point—not just because of its price, but also because its technical position is starting to heat up. According to on-chain analyst İbrahim Cosar of CryptoQuant, ETH is now testing the 50-day Exponential Moving Average (EMA) again.Although it has not broken through convincingly, Cosar feels that the breakout time is only a matter of days. The key is a daily close above the $2,500 to $2,600 range. If this happens, ETH could immediately head to the $2,800 level, then open the way to the next target: $4,000.At first glance, this sounds like deja vu. Previously, Ethereum had also played around in the horizontal range between $2,100 and $2,800 before finally jumping sharply to the psychological level of $4,000. Cosar believes that the pattern could repeat itself, especially if momentum is really formed from this breakout.![](https://img-cdn.gateio.im/social/moments-f555752b115cbf225c80379a6a640e7e)Source: CryptoQuant## **Ethereum Network Confidence Grows Amid Record-Breaking Staking Activity**On the other hand, it is not only the price that attracts attention. Ethereum’s network fundamentals are giving a deeper signal. According to a report from CNF last week, Ethereum staking hit a new record. In just the first half of June, more than 500,000 ETH have been staked. The total accumulated staking has now passed 35 million ETH—the highest number in history.Not only that, CryptoQuant also noted that the number of accumulation addresses, aka wallets that have never sold any ETH at all, has reached a new number: 22.8 million ETH. Just imagine, like a group of collectors who choose to store expensive paintings in a safe with no intention of selling a single one. This is a clear signal that there is a high level of confidence in Ethereum’s future, no matter how shaky the graphs are.Meanwhile, at the whale level, we reported that on June 16, there was a large wallet holding more than $3.7 billion in ETH. In contrast, small-scale holders have started to lock in some of their profits. Such movements are usually not accidental—there is a narrative of a shift in position between large and retail players.### **Technical Breakout vs. Geopolitical Risk**However, Cosar warned that technicals are not the only factor that can move the market. Geopolitical tensions involving the United States, Israel and Iran are still potential triggers for sudden volatility. In times like these, he advised market players not to be too aggressive, especially with high leverage. The reason is, a sudden spike can turn into a correction in a matter of minutes—and not everyone can get out alive.Furthermore, Cosar said that another technical point that is no less important is at the 50-week EMA. According to him, this is the “last barrier” holding Ethereum back from an explosive movement. If ETH manages to break through this zone, then it is not impossible that the journey to $4,000 will happen faster than many people think.At press time, ETH was trading around **$2,442** with a market cap of $294.84 billion. A slight increase, indeed. But with all the technical factors, staking, and big wallet movements continuing to strengthen, the question now is, is ETH ready to open a new chapter, or does it still need some time to warm up?---###### Recommended for you:* Buy Ethereum Guide* Ethereum Wallet Tutorial* Check 24-hour Ethereum Price* More Ethereum News* What is Ethereum?