- Ethereum has reclaimed $3,000, boosted by ETF flows and Bitcoin’s rally.
- ETH now faces a major resistance from a multiyear ascending trendline.
- RSI suggests short-term pullback risks remain elevated near $3,200.
- ETH/BTC breakout signals Ethereum may outperform Bitcoin in the short term.
Ethereum Retakes $3K: Will the Rally Hold or Falter Below Resistance?
Ethereum (ETH) has surged above the $3,000 mark for the first time in months, following a broader crypto market rally triggered by Bitcoin’s push to new all-time highs. The move comes amid increased ETF inflows and rising institutional demand, reigniting bullish sentiment around Ether.
However, ETH’s recent price action suggests caution, as the token now faces a critical resistance level: a multiyear ascending trendline that previously acted as strong support between 2022 and early 2025.
Also Read: Ethereum Price Prediction: Bulls Eye $2,400 as Whales Accumulate in April 2025
Ethereum Faces a Major Test at $3,200
The trendline, which underpinned several accumulation phases over the past few years, broke down in April 2025. Ethereum’s current move appears to be a textbook retest of previous support turned resistance. Unless ETH reclaims this trendline, a sustainable bullish breakout remains uncertain.
Technical indicators also paint a mixed picture. The RSI on the weekly chart is above 70, signaling overbought conditions and the potential for a pullback. If ETH fails to close above this resistance, a decline back to the $2,500 zone (aligned with the 0.382 Fibonacci level) could be likely.
On the flip side, if bulls manage to reclaim and close above this trendline, Ethereum could target the $3,500 to $4,100 range — levels aligned with the 0.618 and 0.786 Fib retracements and longer-term descending resistance.
ETH/BTC Chart Shows Signs of Strength
While ETH/USD faces short-term hurdles, Ethereum’s performance against Bitcoin (ETH/BTC) is showing strength. The pair has broken out from a classic bull flag pattern on the weekly timeframe, which typically signals the continuation of an uptrend.
This breakout comes after a solid recovery from 0.0184 BTC in April. ETH/BTC now targets the 0.0315 BTC level, which also aligns with its 50-week moving average. A successful move toward this level could indicate Ethereum’s relative outperformance against Bitcoin, a trend that could support further upside for ETH/USD as well.
