Ethereum Reserves Surge, Analysts Predict Price May Hit US$3,500 by Late July

Ethereum (ETH) has made headlines once again after breaking through a key resistance level and reaching a new multi-month high of US$2,900. The cryptocurrency jumped by an impressive 14.5% on Friday (11 July), driven by a wave of bullish sentiment and growing institutional interest.

Crypto analysts are now pointing towards US$3,500 as a realistic price target by the end of July, citing a combination of strategic Ether accumulation by major companies and increasing inflows into spot Ethereum ETFs.

One prominent analyst known as Pentoshi shared on social platform X that ETH might be on the verge of a significant breakout, identifying US$3,300 as the next bullish milestone. “Ethereum looks primed for another leg up. If momentum sustains, we could see a swift move to $3.3k and potentially $3.5k soon after,” Pentoshi wrote.

The optimism is further supported by several noteworthy corporate moves:

• SharpLink Gaming, a sports betting and technology company, recently purchased 7,689 ETH at an average price of US$2,501, raising their total holdings to 205,634 ETH, now worth over US$533 million.

• Robinhood has enabled ETH staking for U.S. users, a move expected to drive further retail participation.

• GameSquare Holdings has begun purchasing Ether, starting with a US$5 million acquisition and outlining plans to buy up to US$100 million worth of ETH in the near future.

• Banking giant HSBC is also experimenting with the e-HKD (Hong Kong’s digital currency) on the Ethereum blockchain, signalling growing institutional trust in the network.

On the technical front, Ethereum recently broke through a critical resistance level at US$2.855, backed by a 21.2% jump in daily trading volume, which reached US$34.6 billion. This confirms a bullish reversal pattern from a falling wedge, which had been developing since April.

Momentum indicators support the bullish case. The Relative Strength Index (RSI) stands at 71.61, indicating strong buying pressure. Meanwhile, the MACD has flashed its most bullish signal since May 2025, suggesting a robust continuation of the upward trend.

Looking ahead, key price levels to watch include the psychological barrier of US$3,200 and the Fibonacci extension target of US$3,538 (based on the 161.8% projection).

If institutional accumulation and positive ETF momentum persist, Ethereum could be set for one of its strongest quarters in recent history — making the US$3,500 target not only possible, but highly plausible.

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