Ethereum Price Prediction: Can ETH Rally Above $3,000? Analyst Weighs In

Ethereum has been playing with traders’ emotions for many months now. The price would go up, but never gain momentum and be stuck in consolidation after an enormous sell-off in early 2026.

Now the atmosphere concerning Ethereum is beginning to shift once more. Traders are watching the charts much more closely because ETH is pressing against a major resistance zone, and the overall structure looks far healthier than it did a few months ago.

Traders think the ETH price is coiling for a breakout

One of the bullish takes came from crypto trader Ray, who pointed out that Ethereum is trading inside a large ascending triangle pattern. In simple terms, ETH keeps printing higher lows underneath the market while repeatedly running into resistance near the same price area around $2,400-$2,450

That kind of setup usually gets traders excited because ascending triangles often lead to strong breakout moves once resistance finally gives way. In this case, the projected breakout target sits near the $3,100 region.

The ETH price has been gradually recovering from its lows around $1,800 to $2,000, with more and more buying taking place at higher levels each time the crypto retraces. The problem is that Ethereum has been unable to break above $2,400 despite these efforts. That repeated compression between rising support and horizontal resistance is exactly what forms the ascending triangle traders are talking about.

The longer ETH stays inside this structure without breaking down, the more attention the setup attracts. Many traders believe a clean breakout above $2,400 could quickly send the ETH price toward the psychological $3,000 level.

On-chain activity is starting to improve

The charts are not the only reason traders are paying attention again. Activity on Ethereum’s network is growing as well. According to Glassnode data, the number of active addresses rose close to about 670,000 and was among the highest numbers seen on the graph.

Also, the number of transactions increased dramatically, rising close to 2.28 million transactions in the latest period. The reason why this is important for traders is because it is a sign of real development on the network and not just the rise in the ETH price from pure speculation.

Ethereum remains at the top in almost all fields within decentralized finance, stablecoins, and tokenization. Whale activity also remains supportive. Large holders continue moving ETH off exchanges, which traders often interpret as a sign that bigger investors are preparing to hold instead of sell.

The ETH charts are still holding up well

We had a look at the daily chart, and it becomes evident that Ethereum is working on forming a rally above the 100-day Simple Moving Average (SMA) level of $2,145. The recent move higher above the $1,800-$2,000 trading range occurred after seeing many bullish break-of-structure patterns.

Daily ETH price chart analysis.

The biggest resistance zone remains between $2,300 and $2,400. That area stopped previous rallies multiple times, so traders know a breakout there would likely attract much more momentum buying. Momentum indicators also remain fairly neutral right now. The daily RSI stays near 47, which means the ETH price still has room to move higher before entering overbought territory.

We also had a look at the 4-hour chart, and Ethereum still appears to be consolidating in a healthy way after the recent recovery. The buyers have been protecting the support zone around $1,950-$2,000, while the market has generated yet another higher timeframe reversal pattern.

4-hour ETH price chart analysis.

While at it, the ETH price has also been testing its resistance above the 100-period simple moving average level of $2,311, which is now becoming a critical point of interest for traders. Meanwhile, the momentum indicator has not yet reached overbought conditions since the RSI stands at 41, giving Ethereum some breathing space.

ETF outflows are still pressuring Ethereum

Even with the improving setup, Ethereum is still dealing with some short-term pressure. Spot ETH ETFs recorded roughly $36 million in net outflows during the latest session, which added more selling pressure to the market. 

At the same time, inflation concerns and broader macro uncertainty pushed many traders into defensive positioning across crypto. Furthermore, capital has been flowing to smaller altcoins due to the hunt for more powerful price action away from the Bitcoin and Ethereum pairs.

However, the underlying fundamentals of Ethereum remain hard to overlook. The focus is still on the scaling plans for the platform, its staking ETFs, and the future roadmap of the project.

Can the ETH price really push back above $3,000?

The ETH price looks increasingly constructive for the first time in several months, and traders are eyeing the ascending triangle formation for its breakout pattern. A breakout from the current resistance area at $2,400 would not be difficult to pull off, provided that it is done in good volume, and it would be followed by an accelerated run toward $3,000.

All what traders need to see for now is further strength above the rising support trendline and a push back up to the upper resistance area. If buyers keep control of the market, the entire conversation around the ETH price could start changing very quickly again.

CoinCodex’s 1-month ETH price prediction places the price at $2,709.43. That forecast is above the current ETH price and lines up with the growing bullish sentiment traders are starting to build after Ethereum’s breakout setup and improving on-chain activity.