$ETH

In one month, the price of Ethereum exceeded $2800; is it possible for it to reach $3000 on the horizon?

Ethereum reached its all-time high earlier today, rising to $2821.56, the highest level since June 12.

Demand for cryptocurrency exchange-traded funds (ETFs) has surged, resulting in an increase of nearly 5% in the ETHUSD currency pair over the past 24 hours.

On July 9, investment in US spot ETFs for Ethereum reached $211.32 million, the second highest level since February, when the price of ETHUSD was just below $3000.

Previous breakouts have been unable to maintain their upward momentum, thus this move comes after breaking the resistance level at $2500. Could this move be unique?

With the ETHUSD pair now trading below its previous high by $50, it is clear that profit-taking has already begun.

The RSI ceiling of 56.8 over 14 weeks is the main reason. Since Ethereum last surpassed the $3000 mark in December 2024, this level has remained steady.

If it breaks through the upper resistance level, the ETHUSD pair is likely to trade at or around $3000.