Ethereum's current cycle mirrors the 2017 bull run, with rising ETF inflows and activity supporting a potential breakout above $3K.
ETH continues to trade within its long-term ascending channel, showing consistent growth patterns and strong historical support levels.
The $2,710 resistance zone and 50-period SMA are key technical markers as Ethereum eyes a move toward $3K in the near term.
Following a strong May, Ethereum is still consolidating above $2,400, preparing for a possible breakout. At $2,495.09, the current trading price represents a daily decrease of 2.20%. Despite the brief decline, network activity and ETF inflows suggest that positive sentiment is intensifying. According to analyst Ted, ETH might reach $3,000 in June and possibly $4,000 by Q3 2025 if it continues to rise.
Historical Patterns Mirror 2017 Bull Cycle
Ethereum's two-week chart, spanning from 2017 to 2025, shows strong cyclical behavior on a logarithmic scale. Price action has followed a major ascending channel, with clear support and resistance levels defining each phase. The current cycle shows early bullish signs, resembling Ethereum’s 2017 run from $8 to $1,400.
The dual-panel chart comparing 2016-2018 and 2023-2025 supports this narrative. Both timeframes reveal similar trend angles, resistance zones, and volume surges. Moreover, blue curved trend lines reflect a consistent upward bias. White resistance lines, present in both charts, highlight where price may stall or break higher.
Channel Structure Confirms Long-Term Momentum
Besides historical echoes, the long-term structure of Ethereum remains bullish. The coin has respected parallel channels since 2017. During the 2020-2021 bull run, ETH surged over 6,000% from 2018 lows, topping out near $4,800. However, the 2022 bear market saw prices retrace to $880 before beginning a slow recovery.
Source: Crypto GEMs
ETH fluctuated between $1,000 and $2,100 in 2023, providing traders with a variety of swing possibilities. Furthermore, prices returned to the upper band of the ascending channel in 2024 due to fresh vigor. As a result, this action encourages hopes for additional advantages.
However, resistance zones around $2,700 and $3,000 remain critical. Breaking above them could confirm a fresh bullish leg. The 50-period simple moving average currently tracks around $2,710.71, a level closely watched by traders.
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