Ethereum shows signs of potential breakout with a 6% surge in July driven by ETF inflows, stablecoin growth, and whale buying.
Analyst Eric Conner views ETH as a 'powder keg' ready for an explosive rally supported by on-chain strength and decreasing exchange supply.
Key bullish indicators include stablecoin market cap growth, rising interest in ETH ETFs, decreasing ETH supply on exchanges, and significant whale accumulation.
If Ethereum can surpass the $2,600 resistance level, it may trigger a rapid price rally supported by strong institutional interest and market dynamics.