Ethereum Nears Consolidation Zone Before Pushing for $3,000
Ethereum is approaching $2,800 after breaking above a key technical resistance level. This move puts the $3,000 mark back in focus as the cryptocurrency holds near $2,750.
The breakout above $2,661 completed a bullish continuation pattern identified by Reuters technical analysis, which points toward a potential target near $3,050. However, Ethereum may first face resistance around $2,775-$2,825 before pushing higher.
The latest rally extends a broader recovery that has already pushed ETH well above the $2,500 area highlighted in recent Ethereum breakout analysis.
The first hurdle for Ethereum is not $3,000 itself. Instead, it's the next likely consolidation zone between $2,775 and $2,825. If ETH can move through this area and hold above it, the path toward $3,000 becomes much cleaner.