Ethereum, the second-largest cryptocurrency by market capitalization, has recently surpassed the $3,000 mark, marking a significant milestone for the digital asset. This breakthrough has sparked optimism among investors and analysts, who are now eyeing the next potential resistance level at $3,200. The ability of Ethereum to maintain its position above $3,000 will be crucial in determining its short-term trajectory. If Ethereum can hold this level, it may pave the way for a further rally towards $3,200, which is seen as the next major resistance point. However, failure to sustain this level could result in a retest of lower support zones.
The daily chart shows strong bullish structure backed by a sustained move above the 9-day and 21-day moving averages, with the RSI pushing into overbought territory at 72.87 — a sign of growing momentum despite short-term caution. The breakout comes after weeks of accumulation around the $2,732–$2,815 range. That consolidation now acts as a support zone, and unless ETH drops below it, bullish sentiment remains in control.
While the daily trend looks strong, the 1-hour chart reveals a temporary pause. ETH is consolidating just above the $3,000 mark, with the RSI cooling to around 49.89. The price is hovering around the 9 and 21 EMAs, indicating indecision. However, multiple bullish crossovers in recent days suggest buyers remain active on dips. If ETH holds $3,000, it could recharge for a run to $3,200 — the next major resistance. Failure to maintain current levels, however, could result in a retest of $2,815 or even $2,732.
As long as ETH stays above the $2,815 support level, the next bullish target lies at $3,200. Momentum indicators remain favourable, and institutional buying across the crypto market adds fuel to the uptrend. However, overbought RSI and lower time frame weakness could signal a brief consolidation before the next leg up. The overall sentiment surrounding Ethereum remains bullish, despite the potential for increased volatility as the cryptocurrency approaches key resistance levels. Analysts have noted that the break above $3,000 is a significant victory for bulls, and many are predicting that $3,200 could be a reasonable short-term target.
This optimism is further bolstered by the recent reclaimed $3,000 level, which Ethereum had not achieved since earlier in the year. The cryptocurrency’s native token, Ether (ETH), has been a driving force behind this surge, powering transactions and fueling innovation across various sectors within the crypto ecosystem. Short-term price forecasts for Ethereum are optimistic, with targets ranging from $3,200 to $3,500. Medium-term potential is even more bullish, with some analysts predicting that Ethereum could reach levels between $3,800 and $5,000. Support levels are identified around $2,750 to $2,820, which could act as a safety net in case of a pullback.
The recent surge in Ethereum’s price has been attributed to various factors, including increased ETF inflows and corporate treasury purchases. SharpLink Gaming, for instance, acquired nearly $49 million worth of ETH, becoming one of the largest known corporate Ether treasuries. This move, along with other corporate investments, has provided a significant boost to Ethereum’s price and market sentiment. The Ethereum Foundation has also played a role in the recent price movements, selling 10,000 ETH to SharpLink Gaming at a discount just before Ether surpassed $3,000. This transaction, along with the Foundation’s roadmap to bring zero-knowledge technology to Ethereum, has added to the overall bullish sentiment. The Foundation’s plans to launch a zkEVM on the layer-1 network within a year have been well-received by the crypto community, further solidifying Ethereum’s position as a leading blockchain platform.
