Ethereum Price Prediction: Is $3K in Sight After ETH’s Latest Breakout?

Ethereum’s latest rally has carried the price back into a major supply area, but sellers have started to respond around the highs. With the asset now near $2.58K, the next reaction could determine whether the recent advance develops into a larger breakout or gives way to another consolidation phase.

Ethereum Price Analysis: The Daily Chart

Ethereum’s daily structure has improved substantially following the explosive breakout from the $1.85K-$1.92K demand zone. That move also reclaimed both major moving averages shown on the chart, with the longer-term average now flattening and the faster one turning higher.

Since then, Ethereum has consolidated above roughly $2.35K and recently pushed toward the major $2.63K-$2.70K resistance zone. The latest candles show rejection from this area, with the price pulling back toward $2.58K after briefly testing above $2.63K.

Nevertheless, the broader structure remains constructive while Ethereum holds above the recent liquidity lows around $2.35K-$2.40K. A sustained daily breakout through the $2.63K-$2.70K supply zone would strengthen the bullish structure and could open the path toward the next major resistance area around $2.90K-$3K.

Conversely, continued rejection from $2.63K-$2.70K would increase the probability of a deeper correction. In that case, $2.35K-$2.40K would be the first important support region, followed by the $2.05K-$2.15K zone around the moving averages.