The second-largest cryptocurrency has hovered around $2,500 over the past several days, with some analysts predicting a decisive breakout above that level and a surge to much higher ground.
Others remain cautious, expecting ETH to head south to around $2,000 before starting a bull run.
The Bullish Perspective
According to X user Ted, ETH is moving towards the $2,550 resistance again, anticipating a pump to $3,000 once the asset initiates a strong weekly close above that zone.
Michael van de Poppe shared a similar thesis, suggesting that if Ethereum tests the $2,520 area and starts to break upwards, it could climb all the way to $3,000. For their part, X user TRACER noted that the asset has recently tested the $2,500-$2,550 range six times, with each rejection getting weaker.
“This resistance will break soon,” they predicted.
MikybullCrypto appears to be the biggest optimist. The analyst opined that a “mega breakout” of the nine-year trendline resistance is on the way, setting the stage for a possible explosion to a new all-time high of $9,000.
The declining amount of ETH stored on exchanges supports the bullish theory. Just a few days ago, Ali Martinez disclosed that over 116,000 coins (worth nearly $300 million) were withdrawn from centralized platforms in 48 hours.
“With exchange supply shrinking this aggressively, the setup for a major move is getting interesting,” he explained.
The analyst also highlighted the major support zone around $2,475, where roughly 2.86 million ETH have previously exchanged hands. “As long as this level holds, the path toward $2,722 remains relatively clear,” Martinez said.
The growing institutional demand reinforces the bullish perspective. Last week, spot ETH ETFs attracted almost $220 million, and cumulative total net inflows now surpass $13.17 billion.
Pullback Ahead?
X user Void claimed ETH has formed an inverted head-and-shoulders pattern on the daily chart, and that one leg down will confirm the setup. That said, the analyst expects a potential drop to $2,000, saying that without this move south, “we can’t go higher.”
Gerla offered a similar perspective. The analyst noted the formation of the aforementioned structure, anticipating a short-term correction to around $2K, followed by a major rally above $4,000 in the coming months.
The post Ethereum (ETH) at a Crossroads: Jump to $3,000 or a Plunge to $2,000 Comes Next? appeared first on CryptoPotato.
The shrinking amount of ETH stored on exchanges and the solid institutional interest support the bullish thesis. Crypto Bits, Crypto News, Ethereum (ETH) Price
This articles is written by : Nermeen Nabil Khear Abdelmalak
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