Ethereum Holds Steady at $2,400 — Is a Breakout to $3,000 Just Around the Corner?

Jakarta, Pintu News – After almost two weeks of persistent selling pressure on Ethereum (ETH), a sharp green candle of 8.27% appeared on June 24, 2025, successfully reclaiming almost 21% of its previous losses in just one move.

On closer inspection, this resembles a classic“reset and rebound” pattern, where a cooling-off period gives patient investors the opportunity to secure supply at a discount – especially asmacro FUD begins to subside.

However, the line between a relief rally and a breakout can be very thin. According to the AMBCrypto page, the direction Ethereum will take will most likely determine the tendency of its movement towards the third quarter (Q3).

Ethereum Price Up 1.56% in 24 Hours

As of June 25, 2025, Ethereum was trading at approximately $2,456, or around IDR 40,006,948 — marking a 1.56% gain over the past 24 hours. Within that time frame, ETH dipped to a low of IDR 39,138,268 and climbed to a high of IDR 40,536,711.

At the time of writing, data from CoinMarketCap shows that Ethereum’s market capitalization stands at around $296.7 billion, with daily trading volume falling 28% to $18.95 billion in the last 24 hours.

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Ethereum Approaches Heavy Supply Zone

Once again, Ethereum’s decline over the past two weeks has been sharper than that of Bitcoin (BTC), with ETH losing 26% from its peak of $2,878 in mid-June, more than double BTC’s 10.89% decline. And this is no coincidence.

While Bitcoin showed relative resilience, the NUPL(Net Unrealized Profit and Loss) for Short-Term Holder (STH) Ethereum fell into the capitulation zone just as ETH broke below the $2.5k mark, after almost a month of tightly consolidated trading around that level.

This was further reinforced by the spike in realized losses, indicating that STHs started to unwind their positions due to market weakness.

Now, with ETH back near the same $2.5k zone, these holders may see this rally as an opportunity to exit at breakeven, just as Ethereum enters the high-density fee base cluster, as seen in the chart below.

The yellow and orange bands highlight where most Ethereum holders buy their supply, with a very high concentration around these zones.

Many entries occurred specifically in the $2.4k to $2.6k range, making it one of the most congested and critical areas to watch as ETH approaches resistance.

If ETH manages to break this band with strength, it could pave the way for further gains. However, if the weak hands start to exit at breakeven, this could be a short-term upper limit.

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ETH Faces True Test of Hodler’s Faith

As Ethereum climbs into the important cost basis cluster, whether holders will keep faith in the continuation of the upward movement could affect how Q3 plays out.

Despite its solid performance throughout Q1 and Q2, ETH still hasn’t managed to reclaim the $3k level, a psychological threshold that might make some investors sell early, especially with macro risks still looming.

That’s why the recent influx of $100 million in ETF funds is encouraging, as it shows that new capital is still flowing in.

When combined with a 9.3% spike in Open Interest and a 61% long bias on Binance ETH perps, it’s clear the market is bullish.

However, is this real conviction? Or are we seeing blind optimism, a setup for a volatility-driven shakeout once ETH approaches resistance?

Well, BlackRock’s recent $18.4 million sale adds a layer of caution. The smart money seems to be pulling out too.

So, unless Ethereum can break the $2,400-$2,600 supply wall with strength, the idea of a clean run towards $3,000 in Q3 may still be unattainable for now.

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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:

• AMB Crypto. Analyzing Ethereum’s 8% rebound – Will Q3 push ETH to $3K? Accessed on June 25, 2025