Ethereum's price has been steadily increasing since its March lows, with the cryptocurrency gaining more than 30% in value. Whale wallets have also accumulated over $300 million in ETH recently, adding strength to the broader setup.
The resistance range of $2,375 to $2,380 is a critical area for Ethereum's price movement. A confirmed close above this level could lead to a breakout towards $2,550 and $3,000, while failure to do so may result in a retrace towards lower support levels.