Ethereum (ETH) is testing key resistance near $2,550, with a weekly close above that level potentially opening a path toward $3,000 according to analyst Ted. Derivatives activity is accelerating—trading volume surged 68.76% to $66.99 billion and open interest rose 10.02% to $34.24 billion, signaling stronger market participation. Meanwhile, the Ethereum Foundation transferred approximately $2.45 million worth of ETH to an unlabeled Gnosis Safe, though the destination’s owner remains unconfirmed. Network fees have dropped sharply from $0.72 to $0.095 per transaction, driven by lower mainnet demand and scaling improvements including Fusaka, increased blob throughput, a 60 million gas limit, and growing Layer 2 usage. The $2,550 level now represents a critical technical test for ETH’s near-term direction.
Ethereum (ETH) is approaching a key resistance area near $2,550 as traders assess whether the latest recovery can develop into a broader breakout. Crypto analyst Ted expects a decisive weekly close above this barrier to open a path toward $3,000, placing Ethereum at an important technical level as market participation increases.
According to Coinglass, ETH derivatives activity is accelerating, with trading volume jumping 68.76% to $66.99 billion and open interest rising 10.02% to $34.24 billion. The expanding derivatives market suggests traders are preparing for potentially larger price swings as ETH approaches an important market phase.
Beyond the chart, the Ethereum Foundation moved approximately $2.45 million worth of ETH to an unlabeled Gnosis Safe, according to Arkham data. The destination has not been confirmed as foundation-controlled. Arkham Intelligence notes the foundation still holds roughly $235.46 million in ETH and $23 million in USDC on-chain.
Network fees have declined significantly. According to Santiment Intelligence, the average fee dropped from $0.72 per transaction on April 21 to $0.095 currently. Santiment attributes the decline to lower demand during bearish summer months and Ethereum’s increasing capabilities—including Fusaka, increased blob throughput, a 60 million gas limit, and expanding Layer2 usage.
The $2,550 zone now represents a crucial test. A weekly close above resistance would confirm a breakout; failure could lead to range-bound behavior or corrections.
