ETH recently broke above resistance near $2,661, a level Reuters technical analysis identified as the top of a bullish continuation pattern. That breakout points to a possible move toward roughly $3,050, although the $2,775-$2,825 zone could slow the rally first.
That makes $3,000 realistic again, but Ethereum still has work to do before the move is confirmed.
$2,800 Is the Next Test
The short-term structure has improved considerably.
ETH has already moved beyond the $2,500–$2,550 region that repeatedly capped earlier rallies, a breakout Coinpaper recently identified as the key step needed to reopen the path toward $2,800 and $3,000.
Reuters now sees $2,775–$2,825 as the next likely consolidation zone. A sustained move through that area would leave the psychological $3,000 level as the next major target.
Supply Is Still Working in Ethereum’s Favor
Ethereum’s broader setup is also supported by tightening liquid supply.
Roughly 35% of ETH is now staked, while exchange balances remain near multi-year lows. Coinpaper recently examined whether Ethereum may be quietly running out of sellers as staking and long-term holdings absorb more supply.
Institutional demand has also started stabilizing again after a volatile stretch for spot Ethereum ETFs. Recent inflows helped ETH recover from below $2,400 and push back through the resistance levels that had limited previous rallies.
What Would Invalidate the Bullish Setup?
The breakout is not risk-free.
Reuters highlights roughly $2,560–$2,565 as the first important downside level. A move back below that area would weaken the current bullish structure, while a deeper fall toward $2,350–$2,360 could signal that the rally has failed altogether.
