Ethereum Price Recovery Could Signal Move to $3,000

The Ethereum price has recovered from a dip to $2,490 and reclaimed the $2,500 level, but is still below its session high of $2,558.47.

Crypto analyst Ted believes that a weekly close above $2,550 could strengthen the case for an advance in the Ethereum price.

According to Ted's weekly chart, Ethereum is just below the $2,547-$2,550 resistance zone, with the latest candle gaining 2.98%. The chart marks $2,800 as an intermediate hurdle, with a breakout there potentially leading to further upside.