Ethereum Defends Critical Demand Zone with Potential Move to $3,000

Ethereum (ETH) has maintained the $2,380–$2,460 demand zone despite recent volatility caused by proposed trade tariffs and inflation data in the US. Analysts anticipate a potential rise toward $3,000.

Key Points

ETH is holding above the critical demand zone.
Analyst Ali Martinez indicates a lack of supply barriers may enable ETH to reach $3,000.
Trader Daan Crypto Trades identifies $2,800 as a significant resistance level for further price movement.
Merlijn The Trader notes a 'textbook double bottom' formation on the 5-day chart, suggesting an upward breakout.
Crypto Rover points out a possible triple-bottom formation, with $4,000 as a key resistance before a new all-time high.
ETH's performance remains below peers like Solana (SOL) and XRP since its ATH of $4,878 in November 2021.
Investor sentiment is bearish, with a 500% increase in ETH short positions since November.
Excessive bearishness could lead to a short squeeze, potentially driving up prices.
Current trading price of ETH is $2,740, reflecting a 4.1% increase in the last 24 hours.