Can Ethereum Hit $3,000? This Top Trader Thinks So
2025-05-24
Ethereum has once again captured the attention of both casual investors and professional traders. With a recent price surge and signs of a technical breakout, market watchers are now asking: can Ethereum hit $3,000 soon? According to a top analyst, the answer might be yes, if a key resistance level can be overcome in the coming days.
The Ethereum coin has been climbing steadily, fueled by bullish momentum and supported by technical signals that often indicate the beginning of a strong upward trend. As Ethereum price approaches a key threshold, many traders believe a breakout could be just around the corner.
The $2,588 Resistance Level: A Critical Turning Point
According to crypto analyst Ali Martinez, Ethereum has formed a classic “inverse head and shoulders” pattern on its recent price chart. This technical formation typically marks the end of a downtrend and the beginning of a reversal to the upside.
The neckline of this pattern sits just under $2,588, a level Ethereum is now testing. If the Ethereum price can push past this resistance with strong trading volume, it could open the way for a swift rise toward $3,000.
Martinez estimates a short-term target between $2,985 and $3,000, based on Fibonacci extensions drawn from recent lows.
This setup is not just based on guesswork—it reflects a pattern seen many times in financial markets, often with reliable results.
Ethereum’s Long-Term Outlook Remains Strong
While the immediate focus is on the $3,000 level, some analysts are thinking even bigger. Crypto market strategist Crypto Patel believes that Ethereum’s longer-term price potential could reach much higher levels.
He points out that the Ethereum coin is already up 95 percent from its previous bottom at around $1,400. In his view, a target range of $8,000 to $10,000 is not out of the question during the next market cycle.
Historically, Ethereum has struggled to break past the $4,800 level. But Patel’s analysis suggests that if this resistance is eventually overcome, the price could move into five-digit territory.
In the meantime, Patel notes that price dips below $2,000 or $2,200 have provided strong entry points for investors looking to accumulate more Ethereum at lower levels.
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Golden Cross Patterns Signal More Upside
Another positive signal for Ethereum comes from technical analysis focused on moving averages. The “Golden Cross” pattern—where the 50-day moving average crosses above the 200-day average—has appeared again in Ethereum charts.
Crypto research account Crypto GEMs highlighted how this pattern has led to strong gains in previous cycles. The most recent Golden Cross was followed by a significant rally in 2023, and Ethereum now shows similar signs of momentum in 2024.
If history repeats itself, the Ethereum price could continue rising, possibly reaching beyond $5,000 in the next major move.
Market Confidence Is Building
Beyond technical indicators, Ethereum’s futures market offers clues about broader investor sentiment.
Data from Coinglass reveals a notable increase in open interest over the past two days. This suggests that more traders are opening new positions in anticipation of price movements.
Additionally, funding rates remain positive. This indicates that traders are optimistic about price increases, but not overly leveraged—a sign of balanced market conditions. The long-to-short ratio is holding steady at 1.15 on major exchanges, showing a slight bullish bias.
Together, these factors point toward growing market confidence in Ethereum’s near-term potential.
Momentum Supported by Trading Volume and RSI
Trading volume also supports the bullish case. Over the past day, Ethereum’s volume increased by over 50 percent to more than $33 billion. At the same time, the Relative Strength Index (RSI) is above 60, suggesting Ethereum is gaining strength but not yet overbought.
If Ethereum price can break past the $2,588 resistance level with significant volume, it would likely confirm a breakout. From there, the next targets would be $2,750, followed by $2,885, and finally $3,000.
As of the latest data, Ethereum is trading above $2,580 and has shown over 5 percent daily growth. Its market capitalization now exceeds $318 billion, reflecting the continued interest from both retail and institutional investors.
Conclusion
Ethereum is at a crucial point. A successful breakout above $2,588 could put the Ethereum coin on a fast track toward the $3,000 mark. Analysts are closely watching both technical patterns and market signals, which for now remain in Ethereum’s favor.
While price targets as high as $10,000 may sound ambitious, current momentum and improving sentiment suggest that Ethereum still has room to grow. For now, all eyes are on whether it can clear its current resistance and confirm the next leg of its journey.
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Frequently Asked Questions (FAQ)
Q: Can Ethereum reach $100,000?
A: Ethereum might reach $100,000 after 2030 if market conditions are good, but it's not expected to happen before then. However, many believe it will exceed $10,000 well before 2030.
Q: Does Ethereum have a future?
A: Many experts are positive about Ethereum's long-term future because it's central to decentralized finance (DeFi), smart contracts, and NFTs. More major companies and financial institutions investing in it could boost confidence and demand.
Q: Is it worth putting $100 in Ethereum?
A: For those who held Ethereum through market ups and downs, a $100 investment in 2019 would be worth nearly $771 today. Ethereum's ongoing upgrades aim to improve its scalability and efficiency, which could increase its long-term value.
Q: What year was Ethereum $1?
A: Ethereum was around $1 in early 2016. It had been below $1 for most of 2015 after its launch.
Q: Is investing in Ethereum halal?
A: Scholars generally consider Ethereum, like Bitcoin, to be permissible (halal) for investment in Islam if used ethically, especially due to its utility in DeFi and smart contracts.
Disclaimer: The content of this article does not constitute financial or investment advice.
