NewsBTC

12 June 2025

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Ethereum Targets $3,100 After Reclaiming $2,800 Resistance

Ethereum (ETH) is approaching the $3,100 resistance level after reclaiming the $2,800 mark for the first time since February. Analysts suggest a potential 10% increase before reaching new highs.

Key Developments

• ETH hit a three-month high of $2,879 after breaking past the $2,800 barrier.
• The cryptocurrency previously traded between $2,475 and $2,680 since May.
• Analyst Carl Runefelt noted an ascending triangle formation indicating a target of $3,100.
• If ETH maintains its current range, it could rise another 10.7%.
• A bullish pennant pattern against Bitcoin (BTC) suggests a possible 30% surge towards 0.03300.

Historical Context

• Analyst Kaleo highlighted similarities between ETH's current performance and its trajectory in 2020.
• Previous sell-offs led to major recoveries; a similar trend may occur now if key support is reclaimed.
• Analyst DonAlt indicated a new all-time high could be possible if the $3,800 resistance is surpassed, with a critical support level at $2,200.

Currently, ETH trades at $2,803, reflecting a daily increase of 6.7%.