Ethereum Bulls Target $3,000 as Support Level Holds
Ethereum is experiencing a renewed bullish structure after rebounding from its historically significant support level at $1,580. Analyst Ali Charts noted that this zone has consistently attracted buyers during market downturns.
The cryptocurrency has recovered roughly 26% from the $1,580 zone and currently trades around $1,884. The analyst projects a run toward $3,000, representing a gain of nearly 90% from the support floor.
Before reaching this target, Ethereum must first clear resistance near $2,300, which stands as the first major hurdle above the current recovery. A sustained weekly close above $2,300 would reinforce the bullish structure and open a clearer path toward the target.
The convergence of a defended support level, bullish on-chain signals, and whale accumulation presents a compelling case for Ethereum's upside. However, liquidity conditions present a more cautious picture, with USDT liquidity denominated in US dollars declining by $4 billion over the past 60 days.