Ethereum Eyes $3,000 Breakthrough as Institutional Capital Floods In
Ethereum's price is consolidating near $2,478 after breaching its key resistance level between $2,300 and $2,400. Technical analysts are predicting a potential rally towards $3,000 based on historical patterns.
A triangle pattern has formed on the 12-hour chart, similar to one that preceded a 31% price increase within 72 hours in the past. If this breakout occurs, it could send Ethereum's price soaring to $3,000, according to analyst Ali Charts.
Ethereum-based exchange-traded funds (ETFs) have seen significant inflows of capital, with BlackRock's ETHA product dominating at $148.82 million in single-day inflows on September 11.
The MACD indicator shows declining momentum, while the Relative Strength Index is above the neutral threshold. A decisive push above $2,550 could put the recent $2,600 peak back into play as the next upside objective.