Ethereum (ETH) has surged 9% in the last 24 hours, positioning it among the top-performing major cryptocurrencies. With gains of 12.7% this week and 45.6% since April 2025, the rally intensifies speculation that ETH could soon challenge the critical $3,000 resistance level.

Will Ethereum’s Price Rally Push It To The $3k Mark?

Ethereum (ETH) has hit its highest price level since early February 2026. The rally comes amid a market-wide resurgence, following Bitcoin’s (BTC) climb to $74,000. BTC seems to be facing some resistance at its current price level, a development which is not very surprising. BTC has tried to breach the $74,000-$75,000 price level on multiple occasions over the last few months.

Ethereum’s (ETH) latest rally comes amid a CryptoQuant report that highlighted how ETH wallets holding more than 100,000 ETH briefly entered a state of net unrealized loss. Historically, such a development has preceded a price rally. Ethereum’s (ETH) latest upswing follows the historical pattern. If ETH sustains its rally and breached the $2500 price level, we could see a continued rally. However, a correction below $2000 could trigger another dip.

While Ethereum’s (ETH) latest upswing has reignited investor hopes, there is a chance that we could face a price dip soon. The market is still quite weak and volatility remains high. Tensions in the Middle East are far from over, and re-escalation could trigger another sell off.

Moreover, there is a very low chance of an interest rate cut from the Federal Reserve after its April meeting. Higher rates could keep investors away from risky assets.

Furthermore, the cryptocurrency market could face its largest liquidation event of 2026. $2.8 billion worth of crypto assets are expected to hit the market before April 15, 2026. Such a move could wreak havoc for Ethereum (ETH).

CRYPTO is on track for what could be its LARGEST liquidation event of 2026.

An estimated $2.8 BILLION in forced crypto selling is expected to hit the market before the April 15 IRS deadline.

US investors may be forced to liquidate Bitcoin and altcoins to cover capital gains… pic.twitter.com/Agqw8vkxaR