The Ethereum price today is hovering near $2,598, stabilizing after a powerful breakout that lifted it nearly 10% from its July 2 lows. This rally allowed ETH to reclaim critical support levels and challenge the upper bound of a multi-week consolidation range. All eyes now turn to whether bulls can sustain this move above the $2,600 mark, a level tied to both historical resistance and short-term momentum signals. What’s Happening With Ethereum’s Price? ETH price dynamics (Source: TradingView) On the daily chart, ETH has reclaimed the June range high and is pushing into a supply zone just below $2,620. Price has cleared multiple CHoCHs (change of character) and broken past the prior equal highs near $2,560, hinting at a shift in structural sentiment. This marks Ethereum’s first clean breakout attempt in weeks, backed by increasing volume and liquidation data that favors bulls. ETH price dynamics (Source: TradingView) The 4-hour chart shows ETH has surged above the 20/50/100/200 EMA cluster (all between $2,472 and $2,506), flipping the short-term trend decisively bullish. Bollinger Bands have expanded sharply, with price now pushing along the upper band at $2,617—typically a sign of breakout continuation if sustained. Why Is the Ethereum Price Going Up Today? The surge in Ethereum price is driven by a clear combination of technical breakout and bullish market positioning. ETH price dynamics (Source: TradingView) On the 30-minute chart, ETH has broken out of a descending wedge and is forming a tight bull flag just below $2,600. RSI remains strong at 58–62, showing room for continuation without overbought pressure. MACD is flattening slightly after an earlier bullish crossover, which triggered the breakout candle from $2,480. ETH Derivative Analysis (Source: Coinglass) Why Ethereum price going up today can also be explained by rising open interest and leverage metrics. As per Coinglass, ETH’s derivatives volume is up +47.17%, while open interest rose +6.76% to $34.8B. The options market also exploded higher (+92.92%), reflecting speculative demand. The funding rate remains modest at +0.0023%, signaling the rally is not overly crowded yet. ETH price dynamics (Source: TradingView) Parabolic SAR remains below price, supporting the short-term trend, while VWAP is providing dynamic support near $2,573. Price has consistently held above this level, reinforcing bullish control on intraday dips. ETH Price Indicators Signal Continuation Toward $2,745 Fibonacci Level ETH price dynamics (Source: TradingView) Zooming out, the weekly chart shows Ethereum is now hovering just below the 0.5 Fibonacci retracement zone at $2,745. This level has capped price multiple times since May and represents the next key upside test. The recent breakout has cleared the $2,490–$2,510 resistance band, and Smart Money Concepts on the daily chart confirm BOS and liquidity shifts back toward buyers. If ETH can close a daily candle above $2,620, upside toward $2,745 and even the 0.618 retracement at $3,067 could be unlocked. On the downside, any failure to hold above $2,560 could risk a return toward the $2,500–$2,510 support area. This zone now aligns with the 4H EMAs and the lower bound of the current breakout structure. ETH Price Prediction: Short-Term Outlook (24h) ETH price dynamics (Source: TradingView) In the next 24 hours, Ethereum’s price outlook remains cautiously bullish. As long as ETH holds above the $2,560–$2,573 pivot zone, bulls may continue pressing for a breakout above $2,620. The bull flag formation on the 30-min chart supports this thesis. A confirmed move above $2,620 opens the door to $2,685, followed by $2,745. However, if price loses the $2,560 trendline, a deeper retest of $2,510 could play out. With Bollinger Bands still expanding, and RSI/MACD maintaining bullish posture, traders should watch for continuation volume or a failed breakout reversal depending on how ETH handles the $2,620 resistance zone. Ethereum Price Forecast Table: July 4, 2025 Indicator/Level Signal/Value Ethereum price today $2,598 Resistance Levels $2,620 / $2,685 / $2,745 Support Levels $2,573 / $2,510 / $2,472 RSI (30-min) 58.4–62.1 (Bullish bias) MACD (30-min) Bullish crossover, momentum easing Bollinger Bands (4H) Expanding EMAs (20/50/100/200 – 4H) Bullish stack between $2,472–$2,506 Parabolic SAR Below price (bullish) VWAP Support near $2,573 Smart Money Concepts CHoCH + BOS, liquidity shift bullish Fib Retracement Levels 0.5 at $2,745, 0.618 at $3,067 Funding Rate +0.0023% (neutral to bullish) Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.