๐ Ethereum Eyes $3K โ Can This Breakout Ignite a Crypto-Wide Rally?
After a tumultuous period, bulls pushed Ethereum over $2,600 and into a crucial resistance zone. Market confidence has returned, and ETH may continue to rise. Analysts predict a correction before any substantial breakthrough.
Top analyst Jelle said, โIf ETH goes back above $3,000, the real fun begins.โ Reclaiming $3,000, a psychological and technical barrier during this cycle, would undoubtedly boost market momentum.
Ethereum leads the cryptocurrency market with increased impetus as bulls seek for a new bullish phase. ETH has been slowly gaining support and traction after rebounding $2,600, laying the groundwork for what many observers think might be a larger cryptocurrency renaissance.
Ethereum must rebound and maintain above $3,000 for an altseason to occur. This level is more than a psychological milestoneโit has historically preceded major market rises.
Jelle believes Ethereum will rise if it regains $3,000, supporting this position. He believes a breakthrough over this level would launch a robust continuation phase, taking ETH fast to $3,400 and beyond.
Ethereum is powerful enough to dominate but encountering crucial opposition till then. If bulls can retake $3,000 with conviction, Ethereum's next leg higher and a market-wide altseason will be established. The following days may decide.
On the daily chart, Ethereum (ETH) is stabilizing around $2,634, close below the 200-day SMA at $2,699.60. After a big rise higher in May, ETH is trading flat, with bulls defending the $2,500โ$2,600 zone and trying to break over $2,700. Price activity tightens, frequently before a breakthrough or crash.
ETH remained above the 34-day EMA ($2,513) and both 50- and 100-day SMAs, indicating short- to mid-term bullish momentum.
This phase features constant volume, indicating neither buyers nor sellers have completely committed. The next bullish impulse might approach $3,000 with a clean daily closure over the 200-day SMA with volume.
