Ethereum price clears $3,000 as bullish trend eyes 0.618 Fib breakout
Ethereum reclaims $3,000 level as bullish breakout eyes continuation toward $3,260
Ethereum surged above $3,040 on Monday, reinforcing its breakout from the $2,400–$2,800 range and signaling a fresh phase of bullish continuation. The move reclaims the critical $2,970–$3,000 resistance zone, which had previously capped multiple upside attempts over the past quarter.
Highlights
- Ethereum trades above $3,040, clearing multi-month resistance near $3,000
- Key resistance at $3,061 (0.618 Fibonacci) now in focus as bulls target $3,260 and $3,524
- EMA and Bollinger Band structures support further upside if price holds above $2,945
The break above this psychological level has now shifted Ethereum’s market structure into a higher-high, higher-low formation on the daily chart, while also invalidating the descending trendline from the November 2024 peak.
ETH price dynamics (Source: TradingView)
The breakout is supported by volume expansion and a firm EMA structure across multiple timeframes. Ethereum’s 20 and 50 EMAs on the 4-hour chart, currently at $2,945 and $2,814 respectively, are positively stacked, providing dynamic support for any near-term pullback. The Bollinger Bands are widening with price trading near the upper band, suggesting an increase in volatility as ETH tests the 0.618 Fibonacci retracement level at $3,061. If this resistance is cleared on a weekly close, upside targets shift toward $3,260 and $3,524, which aligns with the 0.786 Fibonacci level.
Short-term momentum builds toward continuation
Momentum indicators also support a bullish bias. On the 30-minute chart, the Relative Strength Index stands at 65.1, and the MACD shows a strong bullish crossover with expanding histogram bars. In addition, the Smart Money Concepts (SMC) model shows Ethereum has reclaimed key Break of Structure (BOS) and Change of Character (CHoCH) levels above $2,900, reinforcing the long bias.
A sustained close above $3,061 would likely invite further breakout buyers targeting the next leg toward $3,260. However, any rejection at current levels could see Ethereum revisit support zones at $2,972, $2,945, and $2,814. A deeper drop below $2,814 would weaken the bullish structure and potentially open the path for a retest of the demand base near $2,700.
In earlier reports, we highlighted Ethereum’s compression within a narrowing consolidation band and emphasized the importance of a breakout above $3,000 to confirm trend continuation. With that level now breached on rising volume, the outlook remains bullish as long as ETH holds above $2,945.
