Ethereum (ETH) price has surged strongly in the past 24 hours, crossing the $2,600 mark with notable momentum. The second-largest cryptocurrency by market cap has gained over 60% in the past 30 days. This performance places ETH as the leading altcoin among the top five cryptocurrencies.
The Ether is now trending higher after spending a short time in consolidation. In the last seven days, ETH has advanced by more than 5%. If the current buying pressure continues, the Ethereum price could soon test the $3,000 psychological price point.
BTC and SOL have kept moving upward over the weekend. At above $111,000, BTC is helping to reinforce market confidence. SOL has held key support points, and the current rise in its price suggests it might reach $200 by the next trading sessions.
Ethereum Price Breakout Targets $3000 in Rally.
The crypto analyst has found that Ethereum (ETH) has seen a confirmed bullish pennant breakout on the 4-hour chart. ETH has formed a distinct breakout by leaving its recent consolidation and breaching resistance. The setup follows a similar pattern to the market’s earlier gains for the altcoin.
The chart suggests Ethereum’s price could increase from $2,900 to $3,000 in the coming days. The positive trend now matches what technical indicators show, as ETH approaches resistance. It has continued upwards thanks to constant high volume and confirmation of the pattern.
ETH Price Breakout: $3K Next Target?
As of Friday, 23rd May, the ETH price stood at $2,654 after surging by more than 12% in the past 24 hours.
Ethereum price moved through its big resistance at $2,500 and managed to rise past $2,650, just below the next major barrier at $2,800. The bulls are firmly in charge according to the 4-hour chart after the steady growth from the $2,400 level.
Technical indicators confirm this upward trend. The Relative Strength Index (RSI) is holding at 58, indicating growing buying interest without reaching overbought conditions.
Meanwhile, the MACD line remains above the signal line, with positive divergence and a histogram reading of 8.76, signaling bullish strength.
There is a clear sign of bulls dominating, with prices rising above a local peak and support appearing at $2,500 and $2,400. If Ethereum price can move above $2,800, it could retest the $3,000 mark, representing a 12% increase from its current price.
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