Ethereum Price Prediction: Has ETH Opened the Door to $3K After the Latest Breakout?

Ethereum has staged a sharp breakout from its multi-week consolidation, with ETH now trading around $2.4K after reclaiming the descending trendline that had capped the broader recovery. The move is supported by a strong acceleration in momentum and a noticeable rise in short liquidations, although the sharp increase in RSI readings suggests the rally could become vulnerable to a near-term pullback. Ethereum Price Analysis: The Daily Chart On the daily chart, ETH has decisively broken above the descending trendline that had been in place for months. The breakout is particularly significant because the price had spent several months consolidating below that resistance while forming higher lows from the June bottom near $1.5K. The latest surge has carried ETH directly into the $2.1k resistance level, with the price currently testing the $2.4K supply zone. This area represents the immediate test for the breakout. A sustained daily close above the zone would strengthen the bullish structure and could open the way toward $3K and potentially higher. On the downside, the former breakout area around $2.1K is now the first major support zone. Holding above it would keep the recent breakout s...