Ethereum has climbed back above its realized price of $2,320, meaning the average ETH holder is no longer sitting at a loss. ETH hit a high of $2,398 before pulling back slightly to trade around $2,376, up 2.2% in the past 24 hours with a 24-hour trading volume of $24.23 billion.
The realized price is the average cost basis of all ETH that has ever moved on-chain. Trading above it historically shifts sentiment from fear to greed.
When ETH reclaimed this level in May 2025, it went on to rally 173% to its all-time high of $4,950. In early 2023, a similar reclaim was followed by a 58% gain.
Analyst Dami-Defi posted on X that a break above the $2,400–$2,600 range would trigger the “most violent move of the year” toward $3,000, stating: “Once we break $2,400 we will catapult violently to $2,800–$3,000.” The post pointed to a clear zone of momentum building on the weekly chart.
$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 the daily chart, Ethereum has formed a bull flag pattern. The price is currently retesting the $2,350 resistance, where the flag’s upper boundary meets the 100-day EMA.
A daily close above this level would set a measured target of $3,018. Analyst Cohelson David also identified a broadening wedge on the 12-hour chart pointing toward $3,000.
The RSI has recovered to 56 from near-oversold levels of 36 in late March, showing returning buyer interest.
Despite the bullish setup, a major obstacle sits between $2,750 and $2,850. Around 7.1 million ETH was acquired at an average cost in that range, creating a zone where many holders may look to sell at breakeven.
Crypto analyst Crypto Patel highlighted $2,400, $2,700, and $3,000 as the key upside levels to watch. He noted that failure to break $2,400 could see price fall back 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
Break above $3K → Road to New ATH $10K
Rejection… pic.twitter.com/aBUPyPizMd
— Crypto Patel (@CryptoPatel) May 4, 2026
The MACD line at 25.03 sits below the signal line of 32.00, with a histogram reading of -6.97, suggesting momentum is fading slightly in the short term.
Short-term support sits at $2,323, with further floors at $2,219 and $2,179. ETH’s market cap stands at $282.39 billion.
ETH is currently trading above $2,360 and the 100-hour simple moving average, with a bullish trend line holding support at $2,350 on the hourly chart.
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