Ethereum Price Breakout: Can Buyers Absorb the $2,400-$2,500 Supply Zone?

Ethereum's price broke out of its consolidation range and surged nearly 15% to reclaim $2,200. The move was fueled by massive buying, with traders unleashing a staggering $2.55 billion in taker volume within a single hour.

This is the third-largest hourly burst seen in roughly 193 days, behind only $3.69 billion on February 7 and $2.67 billion on March 23. The key signal here is buyer aggression, with traders actively crossing the spread to secure ETH exposure rather than simply placing bids below the market.

The large-wallet accumulation has added further weight to the breakout, while ETH has cleared its short- and medium-term moving averages. However, momentum is a concern, as RSI has moved above 80, leaving ETH stretched in the short term.

Now that Ethereum has broken out of its consolidation range, buyers must absorb the $2,400-$2,500 supply zone to turn this sudden breakout into a much larger price rally. If they succeed, a decisive close above that zone could expose $2,800 next.