Ethereum nears key resistance as analysts predict $3,500 surge

Ethereum (ETH) has climbed 1.8% in the past 24 hours, reaching $2,987 on July 13, as strong technical momentum, ETF inflows, and forced short liquidations contribute to the upward move.

Analysts, including Michaël van de Poppe, now eye the $3,500 level as the next bullish target.

$3,000 test triggers liquidations and upside breakout

The rally has been fueled by over $4.57 million in short liquidations, with many bearish traders forced to exit positions as ETH approached the $3,000 resistance zone. According to liquidation heatmaps, dense stop-loss activity was clustered between $2,800 and $2,900—now acting as a new support region after ETH successfully retested it.

Van de Poppe, a popular crypto strategist, noted that the trend has clearly shifted upwards. He views any sub-$2,900 pullbacks as strong entry points, expecting Ethereum to surge toward $3,500 in the coming weeks. “The trend has become upwards on ETH, which means there’s a lot of upside yet to be made,” he said.

Spot ETF demand continues to rise

The technical picture is supported by macro flows into Ethereum investment products. Spot ETH ETFs recently saw a record $907 million in weekly inflows, signaling growing institutional appetite. This influx of capital has mirrored a similar ETF-driven trend that pushed Bitcoin to its latest all-time highs above $118,000.

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Market outlook

Ethereum now boasts a $360.6 billion market cap with 24-hour trading volume at $14.1 billion. While volume declined 40% from previous days, the price strength suggests that conviction remains high among bulls. Traders are closely watching the $3,000 psychological level—if broken with sustained volume, it could act as a springboard toward the $3,500 target.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.