Ethereum Eyes $3,000 as Bullish Momentum Builds

Ethereum (ETH) is showing renewed signs of strength, positioning itself for a potential breakout toward the critical $3,000 level. Over the past few weeks, ETH has formed a tight consolidation range above the key $2,400 support zone, backed by the convergence of the 50-day and 100-day moving averages. This area has consistently acted as a base for upward moves, and the recent price action suggests that bulls are regaining control.

ETH recently reclaimed the $2,500 level with a strong daily close, supported by increasing trading volume. This uptick in volume indicates new capital is entering the market—a bullish signal, especially as Ethereum has lagged behind Bitcoin in recent months. This underperformance has set the stage for a potential catch-up rally or mean reversion.

The next major resistance lies at $2,800, a level that has capped gains since late May. A breakout above this zone would open the path toward the psychologically significant $3,000 mark, which also represents the upper boundary of a broader consolidation range dating back to March. The 200-day moving average, currently flat near $2,900, could begin to curve upward if momentum persists.

Technically, Ethereum’s RSI sits at a neutral 52, suggesting room for further upside before reaching overbought territory. A weekly close above $2,600 and a confirmed breakout from recent highs could trigger a more sustained rally. As bullish sentiment gradually returns, traders and investors should monitor ETH closely, as the conditions appear to be aligning for a potential run toward $3,000.