Ethereum Nears $3K—But This Single Hurdle Could Derail the Rally
ETH bulls are charging toward the psychological $3,000 mark—yet one stubborn resistance level threatens to slam the brakes on the party. Market watchers note a critical supply zone at $2,950 where early investors might dump bags, because nothing fuels crypto volatility like traders with diamond hands... until they don’t.
Technical indicators flash overbought signals after a 28% monthly surge, while Bitcoin’s dominance wobble leaves altcoins exposed. ’The $3K narrative is pure hopium if Ethereum can’t hold $2,800 as support,’ quips a hedge fund PM who—shockingly—just happens to be short ETH futures.
Meanwhile, gas fees remain high enough to make traditional finance brokers blush. At least Wall Street’s 1% extraction methods come with free stale coffee.
Source: Watcher Guru
Ethereum to $3,000? Why One Thing May Stand In Its Way
Since the arrival of US President Donald Trump, the digital asset sector has been on the up and up. Indeed, his return to the WHITE House has brought with it the first pro-crypto administration in the country’s history. That is expected to manifest into favorable regulations for the burgeoning asset class.
That potential has been massive for several tokens and their price performances this year. Throughout the last week, several tokens have made major strides. Although that is expected to continue for Ethereum, there is one thing that may stand between ETH and the coveted $3,000 mark.
Despite dropping 3% on Thursday, ethereum had surged to the $2,570 mark after a 42% jump over the last seven days. However, long-term holders have increased selling, which leaves the asset at risk for increased pressure. According to data from Glassnode, the liveliness metric for ETH has shown a stark increase. This signals that there is increased selling among this group of holders.
The concern revolves around this jump in value being the first in three months. Specifically, it shows that investors are looking to take profit from the asset’s rise. That is a risky proposition for Ethereum, as it could see the asset’s surging value cease. Around 64 billion ETH worth $164 billion sits at a strong support between $2,346 and $2,412, which should stabilize the price. However, it will face a critical resistance at the $2,654 level.
