As the market declines, the price of Ethereum hovers around $2,550. Is it still hopeful to reach $3,000, or will it suffer greater losses?

Ethereum price predictions have attracted attention again, with the current ETH trading price around $2,550, reflecting a cautious market after a brief rise. Last month, due to a weak market, this asset fell to a low of $2,499 and then rebounded above a key resistance level.

In the past 24 hours, Ethereum has broken through the resistance level of $2,550, suggesting that if the bulls fail to regain control, its price may further drop to $2,220. Meanwhile, a new token is breaking the norm and will challenge more mature tokens in the coming months.

Ethereum price prediction: Moving towards $3,000 or dropping to $2,200?

Currently, the ETH trading price is around $2,500, having surged 3% in the previous week, breaking through the two-week high of $2,535. This trend reverses the previous drop from $2,523 to $2,372, which was a 76.4% Fibonacci retracement level, indicating a potential shift in market momentum. However, the asset faces strong resistance near $2,665 and $2,720, where previous highs have limited further gains.

If it continues to break through $2,735, it could pave the way for the $3,000 target. Based on previous breakout patterns, many bulls are optimistic about this target. Conversely, if it fails to hold $2,550, it may drop again towards $2,310 or even $2,220, as that is a key support level. Experts, such as Wizz Trades on X (formerly Twitter), have stated, 'Even in the worst-case scenario, it's still good news for ETH.'