The Factors that Could Propel Ethereum Past $3K: An Analysis of ETH Price

Ethereum is showing strong momentum, pushing through multiple resistance zones and testing the $2.6K—$2.7K region. However, it is now encountering technical barriers that could either trigger further growth or a healthy retracement.

The 4-hour chart shows a strong bullish momentum with room to stretch toward the $2.8K area, but the current sideways price action combined with a declining RSI suggests cooling momentum.

Market sentiment remains bullish, as reflected by funding rates across all major exchanges, and Ethereum's open interest has seen a significant increase. However, traders are advised to remain cautious as the elevated RSI and crowded positioning could indicate a short-term flush if ETH gets rejected at key resistance.

Monitoring funding spikes and open interest behavior over the next 24–48 hours will be critical to gauge whether the rally can extend further or a pullback is imminent.