Ethereum Holds Strong at $2,400 — Is a Massive Surge to $5,000 Just Around the Corner?
Jakarta, Pintu News – Ahead of the third quarter (Q3), Ethereum price showed a significant rise of 3% on June 30, breaking through the crucial $2,500 level before stabilizing at $2,470.
This rise coincides with an optimistic update to the Ethereum validator architecture. This update aims to improve security and decentralization, as well as address ETH-staking issues through an active-active architecture approach.
Before discussing further, let’s trace the current Ethereum price journey first!
Ethereum Price Drops 0.39% in 24 Hours
As of July 1, 2025, Ethereum is trading at approximately $2,486, or around IDR 40,346,804, after experiencing a slight 0.39% dip over the past 24 hours. Within this timeframe, ETH reached a high of IDR 40,872,353 and a low of IDR 39,718,484, reflecting modest intraday volatility.
At the time of writing, data from CoinMarketCap shows that Ethereum’s market capitalization stands at around $300.26 billion, with daily trading volume rising 22% to $17.11 billion in the last 24 hours.
Read also: Bitcoin Slips to $107K Today— Is a Drop to $105K the Next Big Move?
Analysts Give Optimistic Predictions for ETH
According to Coinpedia, one of the key parties in Ethereum’s transformation is Obol Labs. This update allows Ethereum validators to operate across multiple carriers and machines simultaneously.
However, in the short term, as bullish sentiment grows, many analysts are giving optimistic predictions for ETH.
One of them is renowned crypto analyst, Crypto Patel, who recently stated that the breakout could push Ethereum price through $6,000.
However, amid this wave of optimism, some whales started offloading their ETH to exchanges such as HTX, ByBit, and OKX. In addition, pressure from the bears also increased, with short positions against ETH on the CME reaching an all-time high.
The current market conditions open up the potential for a short squeeze, especially if the short positions face a large amount of liquidation.
Why Short Squeeze Could Push Ethereum Price to $5,000
According to data from Lookonchain, a large whale has sold a significant amount of ETH recently.
Wallets with addresses 0x14e4 and 0x26Bb-which are likely owned by the same entity-have unstaked and withdrawn a total of 95,920 ETH, worth approximately $237 million.
In the past 20 days, these whales have deposited 62,289 ETH (approximately $154 million) into exchanges such as HTX, Bybit, and OKX, while still holding 33,631 ETH worth approximately $83 million. This activity clearly shows that the bears are trying to prevent ETH prices from rising.
Read also: 3 Altcoins to Watch Closely in Early July 2025 – Could These Be the Next Big Breakouts?
However, amidst the bearish trend, market sentiment began to change from pessimistic to opportunistic.
One analyst highlighted the potential for a short squeeze, indicating that the current market dynamics could favor a price reversal.
He noted that Ethereum’s short position on the CME has reached a record high, with bears trying to stop ETH’s upward momentum. It seems that the pressure on Ethereum is being artificially amplified.
However, the recent positive price movement suggests that the market may be ready to reverse the short position.
The analyst also mentioned that although the bears continue to pile up positions to counter ETH’s bullish wave, it’s becoming increasingly clear that Ethereum could liquidate these short positions and reach a price of $5,000 by 2025.
The Longer the Consolidation, the Stronger the ETH Price Breakout Potential
The daily chart shows that Ethereum price is currently at a crucial point, adjacent to several important EMA bands, including the 200-day, 50-day, and 20-day EMAs.
The price movement in the daily chart clearly shows that over the past two months, ETH has been moving in a sideways or range-bound pattern.
However, the longer this consolidation phase lasts, the greater the potential for a significant breakout in the ETH crypto asset. Although the technical indicators are currently neutral, the MACD has recently shown bullish signals with the formation of a golden cross pattern.
As such, the chances that the price surge that occurred in the second quarter(Q2) will continue are much higher, supported by the continuation pattern that is forming.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- Coinpedia. Ethereum Price Eyes $5K as Short Squeeze Looms: Analysts Predict Major Breakout. Accessed on July 1, 2025
