Ethereum’s OBV breakout signals renewed bullish momentum as it approaches the $3,000 level.
ETH trades above key averages, with analysts targeting $2,985 to $11,000 in coming cycles.
Technical patterns and rising volume suggest Ethereum could soon break major resistance zones.
Ethereum is testing a major bullish threshold as its On-Balance Volume (OBV) indicator rises above what analysts call the most important line in crypto. This movement could mark a shift in momentum after extended consolidation. A confirmed close above this level may require several attempts, but could set the tone for further upside.
Ethereum Breaks Key Levels, Market Signals Point to Strength
According to analysis prepared by Kyledoops via X, Ethereum has moved above its Realized Price at $1,900, suggesting that the average holder is back in profit. It also trades above the True Market Mean at $2,400, which has historically been a key level during past cycles. The next target is the Active Realized Price at $2,900, which could increase investor confidence.
Analyst Ali Martinez pointed out that Ethereum has formed an inverse head-and-shoulders pattern, with neckline resistance near $2,588. If ETH breaks above this level, the price could move quickly towards $3,000. Martinez set a price target of $2,985 based on Fibonacci extensions.
Crypto Patel shared that Ethereum is already up 95% from its bottom of $1,400. He expects the price to reach between $8,000 and $10,000 over time. Historically, Ethereum’s major resistance lies near the $4,800 level. Patel added that dips under $2,200 would be opportunities to re-enter the market.
Consolidation Holds as Volume and Technicals Align
Ethereum has been trading above the 21-day EMA, and higher lows continue to form, suggesting strength. According to data from TradingView, ETH recently hit a high of $2,731 and is consolidating above $2,675. The RSI is above 60 and MACD is also in a bullish zone.
Crypto GEMs observed repeated golden cross patterns in 2023 and 2024, followed by price increases. ETH’s 50-day moving average has again moved above the 200-day average, often a bullish signal.
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The OBV indicator poking above resistance suggests rising buyer interest. According to Bitcoinsensus, Ethereum is also completing a macro bullish wedge pattern with a breakout target near $11,000.
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