Ethereum (ETH) has shown remarkable strength in its recent price action, breaking key resistance levels and setting the stage for potential new all-time highs. According to trader Michaël van de Poppe, ETH successfully re-entered its trading range, held support at the range low, and began a steady grind upwards. This momentum culminated in a breakthrough above the crucial resistance at $2,650, leading to a sharp rally towards $3,000, characterized by a vertical candle on the charts. As of July 11, 2025, this movement signals growing bullish sentiment, with traders now advised to exercise patience before the push to ATHs continues.

Ethereum Price Analysis: Breaking Resistance and Rally Dynamics

In detailed trading terms, ETH's breakout above $2,650 marks a pivotal shift from consolidation to expansion. The price had been grinding upwards after defending the range low, which likely acted as a strong support zone around lower levels observed in recent sessions. This upward grind transitioned into a powerful rally, with ETH surging to $3,000 in what van de Poppe described as a vertical candle – a rapid price spike often indicative of strong buying pressure and potential short squeezes. Traders should monitor trading volumes during this phase; elevated volumes accompanying the breakout suggest institutional interest and sustained momentum. For those eyeing entry points, the $2,650 level now flips to potential support on any pullbacks, offering a low-risk area for long positions if ETH retraces to test it.

Looking at broader market indicators, this ETH rally correlates with positive sentiment across the cryptocurrency market. On-chain metrics, such as increased transaction counts and active addresses on the Ethereum network, support the bullish narrative, pointing to rising adoption and utility. Resistance levels to watch include the psychological barrier at $3,000, which ETH has already approached, and higher targets near previous ATHs around $4,800 from late 2021. If momentum persists, traders could see ETH targeting $3,500 in the short term, with stop-losses recommended below $2,800 to manage risks amid volatility. The relative strength index (RSI) on daily charts likely shows overbought conditions post-rally, suggesting a period of consolidation or minor correction before further upside.

Trading Opportunities and Risk Management for ETH

From a trading perspective, this breakout presents multiple opportunities across various pairs. In ETH/BTC, the pair has shown resilience, potentially signaling Ethereum's outperformance against Bitcoin if the rally holds. For spot traders, accumulating on dips towards $2,900 could yield gains as the market digests the move. Futures traders might consider leveraged longs with tight stops, capitalizing on the vertical candle's momentum while being cautious of liquidation risks. Market sentiment remains optimistic, with derivatives data showing a funding rate skew towards longs, reinforcing the upward bias. However, external factors like macroeconomic news or regulatory updates could introduce volatility, so diversifying into stable pairs like ETH/USDT is advisable.

Overall, ETH's path to new ATHs hinges on maintaining above key supports and building on this rally's foundation. Patience, as emphasized by van de Poppe, is key – avoiding FOMO-driven entries and waiting for confirmation signals like higher highs on lower timeframes. This analysis underscores Ethereum's potential for significant gains, driven by technical breakouts and fundamental strengths in DeFi and NFTs. Traders should stay updated with real-time charts, focusing on volume spikes and candlestick patterns to navigate the next phases effectively. With ETH's market cap expanding, this could influence altcoin rallies, creating cross-market trading setups for savvy investors.