Originally reported by Coinpedia Fintech News
Ethereum’s price is making another attempt to breach the critical $2,600 resistance level, marking its third effort this month. Previous attempts faltered despite stable trading volumes, but the current rally faces added uncertainty due to declining volume, potentially derailing upward momentum. Historical data indicates $ETH has entered an accumulation phase, which could delay a breakout for several months.
The logarithmic regression bands—a tool used to track rapid price acceleration and deceleration—highlight key support and resistance zones. ETH’s recent entry into these bands suggests a prolonged consolidation phase, mirroring past cycles. Historically, Ethereum has remained within these bands for nearly a year before breaking out to new all-time highs (ATHs). With the asset already consolidating for four months, analysts predict a similar timeframe of sideways movement before a potential bullish surge.
Will Ethereum Struggle to Reach $3,000 in 2025?
Despite a V-shaped recovery on weekly charts, ETH remains below a long-term ascending trendline established mid-2022. Technical indicators now hint at a possible pullback: the price is sandwiched between the 50-day and 200-day moving averages (MAs), threatening a bearish Death Cross. Additionally, the weekly Directional Movement Index (DMI) shows weakening bullish momentum as the -Di line trends downward. These signals suggest ETH could remain capped below $2,500 unless a decisive breakout occurs, invalidating the bearish outlook.
In summary, Ethereum’s path to $3,000 hinges on overcoming critical resistance levels. Failure to do so may extend consolidation through 2025, delaying the next major bull run.
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Source: Coinpedia Fintech News
