Analysts highlight 4 reasons ETH is about to breakout

According to analysts, Ethereum (ETH) is currently gathering some catalysts that investors have long awaited to trigger a new bullish rally.

In June, these signals are becoming clearer, forming a solid foundation for short-term price expectations.

Why is ETH about to have the biggest breakout ever?

Axel Bitblaze, a well-known analyst on platform X, believes that ETH is about to have its biggest breakout ever. According to him, four main catalysts are laying the foundation for this strong bullish momentum.

The main reason why Axel Bitblaze remains bullish on ETH is the strong accumulation activity from BlackRock. As of May 9, 2025, BlackRock has bought 269,000 ETH (trị a price of about $673.4 million la) without selling a single coin. This signals a long-term investment strategy.

! inflows into iShares Ethereum Trust (ETHA) | Source: SoSoValuePreviously, BlackRock helped the price of Bitcoin skyrocket from $76,000 to $112,000, thanks to a huge inflow of money into ETFs. Now, similar moves are taking place for ETH, leading many analysts to believe that this is a strong signal that ETH may break out soon.

In addition, the top altcoin by market capitalization is currently experiencing the strongest inflow of funds since the U.S. elections.

The second factor that Axel Bitblaze highlighted was the significant increase in Ethereum network activity. Last month, the number of transactions on Ethereum reached 42 million, the highest level since May 2021. At the same time, the number of daily active addresses has risen to 440,000 – also the highest level in the past six months.

! Monthly ETH Transaction Volume | Source: Token TerminalThis reflects the increasing level of network usage, especially in areas such as DeFi and stablecoin trading.

The third factor that Axel pointed out is that the ETH/BTC ratio has dropped to its lowest level in 6 years. The weekly RSI has also reached a record low, indicating that ETH is currently oversold. This often signals a potential trend reversal.

Moreover, in the past month, the ETH/BTC pair has recovered 30% – an early confirmation sign of a potential reversal.

Volatility of the ETH/BTC trading pair | Source: Axel BitblazeFinally, he highlighted the institutional demand for ETH as evidenced by the fact that SharpLink Gaming recently raised nearly half a billion dollars to buy ETH.

Based on these developments, Axel Bitblaze predicts ETH could reach $9,000 by early 2026.

"By December 2025, ETH could trade around $6,000 to $6,500. The bullish trend will occur in Q1 2026 and is likely to trade above $9,000 before reaching a recession peak," Axel Bitblaze said.

In addition to the catalysts that Axel emphasized, the amount of ETH staked reached a new high in June, with 4.65 million coins currently locked, nearly 30% of the circulating supply.

! ETH ETH staked in DeFi protocols | Source: Beaconcha.inThe increased amount of staked ETH pushed the available supply on the exchange to a new low in June. As supply tightens and institutional demand increases, bullish pressure also improves.

ETH ready for a bullish run like in 2017?

In addition to Axel Bitblaze's analysis, veteran trader Merlijn The Trader has compared the current price cycle of ETH with the bullish run of 2017. He believes that this altcoin is currently in a structurally strong position to breakout even more.

Comparison of ETH price structure in 2017 and 2025 | Source: Merlijn The Trader"ETH is copying 2017 with each candle. 2017: Breakout after regaining the 50 MA. 2025: Similar setup. The same degree. Similar stress. The only difference is that 2025 has a bigger engine, more fuel... and no brakes," Merlijn The Trader said.

At the time of writing, ETH has recovered more than 50% since the beginning of May and is trading above $2,700. However, a recent analysis noted that profit-taking has already begun. This could act as short-term resistance to a breakout above the weekly 50 MA, as Merlijn predicted.

Minh Anh