Bullish Momentum Builds as ETH Surges Past Crucial Threshold, Paving Way for Potential Triple-Digit Upswing

Table of Contents Ethereum has successfully reclaimed the critical $2,320 realized price threshold, marking a pivotal shift that brings the average ETH investor back into positive territory. The cryptocurrency peaked at $2,398 before experiencing a minor retracement to approximately $2,376, representing a 2.2% increase over the previous 24-hour period with trading volume reaching $24.23 billion. The realized price metric represents the aggregate cost basis of all ETH tokens that have moved across the blockchain network. Historical data demonstrates that trading above this benchmark typically catalyzes a sentiment transformation from bearish caution to bullish optimism. When Ethereum recaptured this threshold in May 2025, it subsequently delivered an impressive 173% surge, reaching its peak of $4,950. A comparable scenario in early 2023 resulted in a 58% appreciation following the reclaim. Market analyst Dami-Defi shared insights on X, suggesting that a decisive breakthrough above the $2,400–$2,600 corridor would initiate the “most violent move of the year” in the direction of $3,000, declaring: “Once we break $2,400 we will catapult violently to $2,800–$3,000.” The analyst’s commentary emphasized a substantial momentum zone developing on weekly charts. $ETH is one candle away from triggering the most violent move of the year. we has been sideways since Feb once we break $2400 we will catapult violently to $2800 – $3000 pic.twitter.com/wNb2oXxNgd — Dami-Defi (@DamiDefi) May 3, 2026 On daily chart intervals, Ethereum has developed a textbook bull flag configuration. The asset is presently challenging the $2,350 resistance level, where the flag’s upper boundary intersects with the 100-day exponential moving average. A confirmed daily candle closure above this critical juncture would activate a calculated price objective of $3,018. Technical analyst Cohelson David separately recognized a broadening wedge pattern on 12-hour timeframes, also projecting movement toward the $3,000 mark. The Relative Strength Index has climbed to 56 from previously oversold conditions at 36 during late March, demonstrating renewed buying pressure entering the market. Notwithstanding the constructive technical picture, a considerable barrier exists within the $2,750 to $2,850 price band. Approximately 7.1 million ETH tokens were accumulated at average costs within this range, establishing a zone where numerous investors may consider liquidating positions at break-even levels. Cryptocurrency analyst Crypto Patel emphasized $2,400, $2,700, and $3,000 as critical upside thresholds warranting close observation. He cautioned that inability to penetrate the $2,400 barrier could prompt a retreat toward $2,000 support. $ETH PUMPING! Next Stop $2,700 → $3,000 Decides EVERYTHING 🔥 ETHEREUM pumping hard, now back near $2,400➡️ Next target: $2,700 → Daily FVG➡️ Above that: $3,000 → Bearish Order Block (decides the next major move) ✅ Break above $3K → Road to New ATH $10K 🚀❌ Rejection… pic.twitter.com/aBUPyPizMd — Crypto Patel (@CryptoPatel) May 4, 2026 The MACD indicator currently registers at 25.03, positioned beneath the signal line at 32.00, with the histogram displaying -6.97, indicating momentum may be experiencing slight deterioration in the near term. Immediate support is established at $2,323, with additional foundational levels identified at $2,219 and $2,179. Ethereum’s market capitalization currently stands at $282.39 billion. ETH maintains trading above the $2,360 level and the 100-hour simple moving average, with a constructive trend line providing support at $2,350 on hourly chart structures.