Ethereum Breaks Critical Resistance, Eyes $3,000 and Beyond

Ethereum has recently broken through a critical resistance level at $2,500, according to analyst John Gillen. This development is significant as it may push the price towards the $3,000 region.

Gillen noted that Ethereum's price exhibits sharp fluctuations and doesn't follow a particular pattern, making it harder to predict than Bitcoin. The analyst also mentioned that after reaching the $3,000 level, the real test for Ethereum lies at the $5,000 mark, where it has struggled in the past.

If Ethereum breaks above the $5,000 level and remains there, the price could then reach the $6,000 to $10,000 range. In his longer-term assessment, Gillen predicts that Ethereum could rise to levels between $10,000 and $12,000 within 24 months.