Ethereum Breaks Out of Consolidation, Targets $3,000

Ethereum has broken out of its long consolidation and descending trendline, shifting to a strong bullish expansion. The recent price action has resulted in a decisive breakout above the $1,850 resistance area and the broader descending trendline that had been limiting upside momentum since the April-May highs.

The market structure remains favourable for further upside as long as ETH continues to hold above the recent breakout zones. However, Ethereum is now approaching an important resistance area around $2,550-$2,600, where some profit-taking or short-term consolidation could occur.

A decisive daily close above $2,800 would strengthen the case for further upside, while a sustained break below $2,200 would weaken the current bullish momentum. The overall daily bias remains bullish, with Ethereum currently trading in a strong upside momentum phase.