Ethereum Price Breakout: Will ETH Reach $3K After Surging Past $2.4K?
Ethereum's price has broken out of its multi-week consolidation, reclaiming the descending trendline that had capped its recovery. The move is supported by strong momentum acceleration and a significant rise in short liquidations.
The breakout above $2.1K resistance on the daily chart is particularly significant, as it carries Ethereum directly into the $2.4K supply zone. This area represents the immediate test for the breakout, with a sustained daily close above strengthening the bullish structure and potentially opening the way toward $3K.
The 4-hour chart shows an almost vertical advance toward $2.4K after breaking above the short-term mildly ascending channel and the $2.1K resistance zone. The next major resistance sits around $2.4K, where Ethereum is currently trading.