Market Optimism Renewed as Ethereum Overcomes Downtrend
Recent analysis from a cryptocurrency market expert suggests that Ethereum‘s price has decisively breached a multi-month downward trend, fostering renewed optimism across the broader market.
Accompanied by increasing trading volume and the anticipation of former resistance levels transitioning into support, Ethereum appears poised to complete a bullish market structure, potentially paving the way for an advance towards the $3,000 valuation.
Analyst Projects Ethereum’s Ascent to $3,000
The price movement of Ethereum on its 4-hour trading chart has reportedly adopted a bullish trajectory.
This shift follows a significant breakout above a persistent descending trendline that had limited its upward progress since the latter part of 2024.
In light of this development, a pseudonymous crypto analyst on TradingView, operating under the handle ‘Orihadad66’, has forecasted a potential surge for Ethereum towards the $3,000 mark.
This action confirms a clear alteration in the prevailing market structure.
The significance of this breakout lies in its invalidation, for the first time, of the broader bearish pattern that had defined Ethereum’s market behavior during the initial period of 2025.
A successful re-evaluation of this zone would strengthen its role as a platform for subsequent upward price movements.
Historically, this area has functioned as a significant liquidity zone where price advances have frequently encountered resistance, thus marking it as a potential area for profit-taking as ETH consolidates after its breakout.
Anticipated Price Path and Further Upside Potential
Technical forecasts indicate that Ethereum might experience a brief retracement towards the $2,350 – $2,400 range, potentially establishing a higher low.
Should this pullback find adequate support, market bulls could then propel the price higher in its next phase, aiming for the $2,800 – $3,000 region.
This area represents a confluence of technical factors, including a notable supply barrier and a significant psychological resistance level.
Moreover, the TradingView analyst projects that a decisive and sustained move above the $3,000 threshold could unlock further gains, potentially leading to the $3,300 – $3,600 supply block.
Such an advance could signal a more substantial reversal of the prior bearish trend.
With Ethereum currently valued at $2,544, an increase to $3,000 or $3,600 would correspond to gains of 17.9% and 41.5%, respectively.
Key Support Level to Validate Bullish Scenario
While the analysis presented by Orihadad66 emphasizes Ethereum’s nearly finalized bullish structure and its potential upward targets, the outlined scenario also includes a distinct invalidation point.
The analyst cautions that if a 4-hour trading candle closes below the $2,100 support zone
If the price breaks down below the recently overcome descending trendline, it will indicate underlying market weakness and could potentially undermine the bullish thesis.
Such price action would suggest that the recent breakout was a “false positive,” possibly a maneuver designed to attract liquidity before initiating increased selling pressure.
The analyst advises traders to meticulously observe price activity around the $2,100 mark.
Also Read: Ethereum reaching $10K ‘can’t be ruled out’ as it trades sharply above SOL, XRP
