Ethereum Eyes $3K Target as Bulls Fight to Overcome Key Resistance

Ethereum's price has cooled off after its latest rally, but experts believe it is still poised for further growth. The asset is currently consolidating below $2.7K after rejection from the $2.75K-$2.82K resistance zone, with daily moving averages approaching a potentially bullish crossover.

The daily chart shows that Ethereum's structure remains bullish, following its explosive breakout from the $1.85K-$1.92K demand zone in August. Since then, the market has established a sequence of higher lows, with an ascending trendline providing structural support.

Another notable development is the convergence of the two moving averages, which could form a golden cross and provide further technical confirmation that the medium-term trend has shifted in favor of buyers.

The 4-hour chart shows ETH compressing immediately beneath the $2.75K-$2.82K resistance area, with a rising trendline connecting recent higher lows gradually approaching price. This creates a tightening structure between ascending support and overhead resistance.