Ethereum Bulls Eye $3,000 as ETH Breaks Key Resistance

Ethereum (ETH) has surged past a critical resistance level at $2,588, reigniting bullish sentiment among traders and analysts. Despite recent underperformance, the second-largest cryptocurrency has maintained upward momentum, with experts now targeting $3,000 as the next milestone. Pseudonymous analyst Ali_Chart highlighted the breakout on social media platform X, emphasizing growing buying pressure. ETH’s ability to sustain above $2,000 has shifted market psychology, though caution remains. As of May 23, 2025, ETH is trading at $2,645.89 USDT, signaling strong potential for further gains.

Ethereum Bulls Target $3,000 as ETH Breaks Key Resistance

Ethereum surged past $2,588 resistance amid fading bullish sentiment, with analysts eyeing $3,000 as the next target. The second-largest cryptocurrency has maintained upward momentum despite recent underperformance, reigniting trader interest.

Pseudonymous analyst Ali_Chart noted the breakout on X, highlighting increasing buying pressure. ETH’s ability to hold above $2,000 has transformed market psychology, though caution persists given its months-long consolidation.

Ethereum Builds Bullish Momentum Toward Key Resistance Level

Ethereum’s price action reveals a strengthening bullish structure as it consolidates below the critical $2,800 resistance level. Higher lows and support from the 21-day exponential moving average suggest sustained buyer interest during pullbacks.

A decisive breakout above $2,800 with volume confirmation could propel ETH toward the $4,060 target—a 43% gain from current levels. The 200-day moving average rejection earlier this month failed to disrupt the ascending support structure.

DeFi Lending Hits Record $23.7B as Market Nears Pre-Tariff Levels

Decentralized finance lending volumes surged to an all-time high of $23.723 billion on May 21, eclipsing the previous 2021 peak by $3 billion. The milestone reflects renewed institutional interest in permissionless credit markets as crypto prices rebound.

Total value locked across DeFi protocols now sits just 6.4% below January levels, before Trump’s tariff announcements introduced macroeconomic uncertainty. Liquidity has concentrated in blue-chip platforms like Aave, Morpho, and Compound, driving $8.5 billion in loan growth since early April.

Ethereum-Based Game Ember Sword Shuts Down Amid Funding Shortfall

Bright Star Studios’ Ember Sword, an Ethereum-based game that once generated $203 million in NFT land sales during the 2021 metaverse boom, has ceased operations. The developer cited insurmountable funding challenges in today’s tightening market for crypto gaming projects.

The shutdown follows a wave of closures across blockchain gaming, with titles like Nyan Heroes and Deadrop already shuttering this year. Despite early promise and substantial capital inflows during the NFT frenzy, many Web3 games struggle to sustain development amid waning investor interest and prolonged crypto winter conditions.