Ethereum Price Targets $3,000 As Analyst Calls It A ‘Powder Keg’

The Ethereum price is showing strong upside signals, with on-chain and market activity aligning towards a potential breakout to the $3,000 level. Crypto exchange balances have fallen to their lowest in nine years, while stablecoin rails have hit record highs, and Spot Ethereum ETF inflows have spiked. Analysts describe Ethereum as a "powder keg" primed for explosive movement. The Ethereum price action is trading within a well-defined consolidation range, hovering near $2,555. A technical analysis by crypto analyst Pentoshi suggests ETH could be on the verge of a significant move, with $3,300 marked as the next bullish target. The crypto expert's chart reveals a period of accumulation and low volatility since early May 2025. Pentoshi has pinpointed $2,100 as the key downside risk in his bullish outlook, with a potential upside of roughly 3.2x compared to the downside risk. Analyst Eric Conner reports that stablecoin activity on Ethereum has reached historic highs, with Ethereum Spot ETFs bringing in $1.17 billion in net inflows during June alone. The amount of Ethereum available for trading is at its lowest level in nearly a decade, signaling a drying float that could have an outsized impact on price. If Ethereum decisively clears the $2,600 resistance level, the combination of supply scarcity, ETF-driven demand, and explosive stablecoin usage could unleash a violent and rapid breakout.