ETH May Be Coiling for a Powerful Move Beyond $3K

Ethereum Builds Bullish Base with $3K Breakout in Sight

Ethereum (ETH), trading around $2,660.71, is coiling within a bullish technical setup that could soon send prices above the $3,000 threshold. The pattern at play: an ascending triangle, a formation that typically precedes upward breakouts in trending markets.

Over the past two weeks, ETH has repeatedly tested resistance near $2,735 while printing progressively higher lows — a signal that buyers are stepping in more aggressively with each dip. This compression between rising demand and steady supply creates a pressure build that often results in a sharp directional move.

Should Ether breach the $2,735 ceiling, it would mark a breakout from the triangle and likely trigger follow-through buying, potentially extending the rally that began in April when ETH bottomed near $1,390.

Technicals are increasingly supportive of that move. The 50-day simple moving average (SMA) is on the verge of crossing above the 100-day SMA, a bullish crossover often seen as a signal of building momentum.

At the same time, Bollinger Bands — which frame expected volatility based on the 20-day SMA — have tightened to a narrow $250 range. Historically, these volatility squeezes have preceded large directional moves, particularly during periods of chart pattern consolidation.

Technical analyst Charles Kirkpatrick notes that 77% of ascending triangle formations resolve to the upside, with breakouts typically occurring around the 61% mark of the pattern’s duration — a point Ethereum appears close to reaching.

Of course, a breakdown beneath the ascending support would invalidate the setup and could open the door to deeper downside action. But for now, the path of least resistance remains higher.