ETH Breaks Key Trendline, Eyes $3K Target Amid Strong Momentum

Ethereum has broken out of its multi-week consolidation phase, reclaiming a key trendline and rising to around $2.4K.

The move is supported by strong momentum and a noticeable rise in short liquidations, but a sharp increase in RSI readings suggests the rally may be vulnerable to a near-term pullback.

On the daily chart, ETH has decisively broken above the descending trendline that had been in place for months, forming higher lows from the June bottom near $1.5K.