Ethereum Breaks Above $2,800! Technical Trends and ETF Catalysts Signal Short-Term Opportunity

Ethereum price breaks through $2,800, setting a new high for the month.

Figure:https://www.gate.com/trade/TON_USDT

As of July 11, 2025, 11:00 (UTC+8), ETH/USDT is currently quoted at $2,973.76, with a daily increase of +7.10% (+197.14), and a trading volume of 222,300 ETH, totaling approximately 637.70M USDT. Previously, the intraday high had broken through the $3,000 mark, reaching $3,002.75, setting a new high for this month.

Factors Behind the Rise of ETH

1. Bitcoin leads the market surge: BTC has also risen over 4% within 24 hours, boosting overall market confidence.
2. L2 and the DeFi ecosystem explosion: The activity of Layer 2 protocols like Base and Arbitrum has surged, driving up on-chain transaction volume and increasing the demand for ETH.
3. Expectations for a shift in Federal Reserve policy strengthen: the market bets that the Federal Reserve may initiate interest rate cuts in the coming months, which would be beneficial for risk assets.

Technical Analysis: Strong Support and Potential Resistance

From the chart:

• The MA30 moving average has risen to $2,828.05, providing short-term support;
• MA60 is at $2,733.15, which is the last consolidation platform;
• The current price shows a strong divergence from the short-term moving average, and caution should be exercised regarding short-term retracement risks;
• The upper resistance is around the integer level of $3,000, but it has successfully pierced through for the first time.

Short-term and medium-term target position forecasts

If ETH can successfully stabilize above $2,950, it may challenge $3,100 and $3,250 in the short term; if it consolidates and falls back, $2,820 and $2,730 are key support zones. The medium-term target price range still points to $3,500 or even $4,000.

Potential risks that investors should pay attention to

• On-chain Gas fee fluctuations: Rising fees may suppress trading activity.
• Macroeconomic data exceeds expectations: If CPI, employment, and other data are stronger than expected, it may reignite concerns about interest rate hikes.
• Whale address movement: On-chain data shows that some large wallets are moving ETH, which may indicate a reallocation of funds.

Conclusion: The barometer of market sentiment

Ethereum broke through $2,800, which not only represents a key technical level but also signifies the market’s renewed confirmation of its long-term value. For investors who are bullish on ETH in the long run, this breakthrough provides a new observation window, but one should also rationally consider short-term fluctuations and avoid chasing highs.