Overview of the main elements:

  • Ethereum price could hover around $3,000 after forming a bullish base near $2,550 in May.

  • ETH outperformed BTC in the second quarter with gains of 40.13%, fueling a bullish capital rotation.

  • Analysts predict a breakout to $5,000 if ETH price breaks through the $2,800 resistance with volume.

Ethereum (ETH) has seen renewed interest after holding above $2,550, with analysts predicting a move towards $3,000. The rally followed strong returns in the second quarter, and technical patterns suggest a breakout could follow.

Analysts set $3,000 as Ethereum's next immediate target

The price of Ethereum hovered above $2,500 at the end of May, and analysts believed a move above $2,700 could initiate a larger rally. Michaël van de Poppe observed the formation of higher lows on the ETH chart, reinforcing a bullish bias. ETH rebounded from a low of $2,100 in April and tested resistance near $2,700.

Van de Poppe noted that the price of ETH has established a pattern that indicates its continuation. If the current range is broken, it could lead Ethereum towards $3,000 at a faster pace. While the market between $2,700 and $2,850 is generally resistant to movement, the price of Ethereum remaining above this area and consolidating at the upper band proves its strength.

Ethereum price technical patterns support projection of $5,000 by year-end

According to Crypto GEMS, a long-term chart indicates that the token could trade above $3,000. Analysts believe that the price of Ethereum has now passed its prolonged accumulation phase, which began in early 2024. The breakdown box suggests the possibility of reaching $5,000 before 2026.

As a result, the price of Ethereum has undergone a period of calm similar to previous periods, although many are predicting significant gains. The price of ETH has broken out of the previous consolidation level, indicating that it could soon revisit the resistance areas between $4,000 and $5,000.

As with previous bull markets, the current trend includes the recapture of previously lost areas and a series of small increases. If the Ethereum price remains stable above $2,500 and rises above $3,000, it is likely to advance faster.

Ethereum Outperforms BTC in Q2

According to data from Ash Crypto, Ethereum outperformed Bitcoin in Q2. During the quarter, ETH returned 40.13%, while BTC returned 32.04%. There may be a shift of assets into Ethereum, which some analysts believe could lead to increased market activity in Q3 and Q4.

Historically, Ethereum tends to perform better when it gains against Bitcoin during the middle phase of the cycle. Ash Crypto noted that major decisions regarding ETFs and future network developments this year could encourage larger organizations to participate.

The data revealed that Ethereum performed strongly in the third quarter, while the second quarter saw positive returns. If this trend continues, the price could surpass $3,000, strengthening the possibility of a long-term recovery.

ETH price structure shows potential for breakout

Ethereum's price structure has shown favorable conditions for a sustained breakout. Price action has respected higher lows, and strong support has emerged near $2,550. Michaël van de Poppe's chart shows that buyers are regularly entering above this level, reinforcing bullish sentiment.

On-chain metrics reflected low liquidation risk, while derivatives markets remained relatively calm. The lack of leverage volatility reinforced the stability of price movements, increasing the chances of a breakout if volume returns above $2,800.

Any breakout attempt must be supported by strong volume to avoid a pullback. Weak momentum could lead to a temporary rejection near $2,800, with ETH revisiting $2,500 before resuming its ascent.

At the time of writing, the Ethereum price was trading at $2,671, up 5% in 24 hours. Volume surged to $24 billion, while the market capitalization reached $322 billion, reflecting renewed investor confidence and a technical recovery.

Disclaimer

This article is for informational purposes only and does not provide financial, investment, or other advice. The author or persons mentioned in this article are not responsible for any financial loss that may result from any investment or transaction. We encourage you to seek your own advice before making any financial decision.