Ethereum price has strongly broken through, standing above $3,400, and the bull run market has fully opened.

In mid-July 2025, the crypto assets market welcomed another wave of strong pump. Ethereum (ETH) successfully broke through the key resistance level of $3,400 recently, strongly continuing the previous bullish trend, displaying obvious bull run characteristics. Data shows that ETH is currently in a favourable state both technically and in the market, with many investors bullish on its continued rise in the short term.

##ETH surpasses 3,000 USD, strongly pumps to 3,423 USD The price of Ethereum broke through multiple resistance zones shortly after surpassing $3,000, including $3,050 and $3,250. On July 17, during the trading session, ETH even soared to $3,423, setting a new recent high.

Behind this wave of pump, in addition to the overall market sentiment recovery, there is also support from multiple technical indicators. From the hourly chart, ETH/USD has formed a key upward trend line and gained strong support around 3,300 USD. In addition, ETH is currently also stabilizing above the 100-hour simple moving average, laying the foundation for further price rise.

##Is the current consolidation a buildup for a new round of pump? Currently, ETH is consolidating at a high level between $3,300 and $3,420. From the Fibonacci retracement perspective, the ETH price is near the 23.6% retracement zone from the low of $2,935 to the high of $3,423, indicating that there has not been a significant selling pressure in the market.

If ETH can hold steady at $3,300 and break through the short-term resistance level of $3,420, the next target will be $3,500, and it may even reach the strong resistance range of $3,550 or $3,650.

##The downward support structure is intact, and the retracement space is limited. Although it is currently in a high-level consolidation phase, technical analysis shows that ETH's downward support structure is sound. If it fails to break through $3,420 in the short term, ETH may experience a pullback, with initial support at $3,300 and key support at $3,220.

If ETH breaks below $3,220, it will further test the support range of $3,180 and $3,050. However, unless there is significant negative news in the market, it is generally believed that the probability of ETH breaking below $3,000 is low.

##Market capital is flowing back, ETH's trend is stronger than BTC Compared to Bitcoin (BTC), ETH has shown stronger performance recently. Multiple data points indicate that the inflow of funds into Ethereum and the activity on the chain have both increased, reflecting a significant boost in investor confidence for ETH. Some analysts believe that ETH's strong performance may signal favourable information for DeFi and Layer 2 projects in the coming weeks. Meanwhile, the exchange rate of ETH/BTC also shows that Ethereum is gradually enhancing its relative advantage. This means that not only is ETH itself rising, but its performance against Bitcoin is also continuously strengthening.

Currently, Ethereum is performing strongly both technically and fundamentally, with the market widely expecting it to challenge higher price levels in the short term. If it can stabilize at 3,400 USD, further rising to 3,500 USD will not be difficult. From a medium to long-term perspective, if ETH can maintain good capital inflow and ecosystem activity, the possibility of breaking through 4,000 USD or even reaching a new historical high is also continuously increasing. Future trends still need to closely monitor global macroeconomic trends, regulatory dynamics, and the synchronous performance of BTC.

##Summary: Ethereum is reaching a new starting point, and the bull run may continue. Ethereum's strong breakthrough of 3,400 USD is not only a milestone in price but also a barometer of market sentiment. Investors are reassessing the long-term value of ETH, as its core position as a platform for Web3, DeFi, and smart contracts is being further strengthened.

Although there may still be volatility in the short term, the overall trend is bullish, and ETH may be at the starting point of a new bull run. For investors looking to participate in this round of Crypto Assets pump, ETH is undoubtedly one of the key coins that cannot be ignored.