ETH Price Consolidation Sets Stage for Potential $3,000 Breakout

Ethereum's price has been consolidating near $2,500 after hitting an eight-month high of $2,660.

Exchange balances have dropped to around 14.7 million ETH from above 20 million, and roughly 35% of the total supply is locked in staking contracts.

This setup echoes a prior triangle pattern that preceded a 30.91% rally, but volume and momentum have yet to confirm a breakout.

A close above $2,626 could open a path toward $3,000, while failure at $2,380 to $2,400 support would expose Ether to the mid-$2,300s.