Ethereum (ETH) price breaks out of its negative trend, targeting a possible rise towards $3,000

After a difficult period, the world's second-largest cryptocurrency now shows promising technical and fundamental signals, hinting at a possible rise towards $3,000.

Ethereum has finally crossed a major technical barrier that had been blocking its ascent for several months. After a difficult period, the world’s second-largest cryptocurrency now shows promising technical and fundamental signals, hinting at a possible rise towards $3,000.

Ethereum regains its bullish momentum

Following months of decline, Ethereum has just broken its negative trend that had been in place since mid-December 2024. The ETH price, currently at $2,068.2, has made a spectacular rebound that clearly distances it from its recent lows.

April 22 marked the true turning point when Ethereum broke through the key resistance of $1,600. This technical breakthrough, eagerly awaited by investors, clearly signals a trend reversal.

Technical indicators unanimously support this recovery. The Relative Strength Index (RSI) jumped from 56 to 66 in just 24 hours, showing a rapid acceleration of bullish momentum. Increasing trading volumes and positive candlestick configurations on daily charts reinforce this optimistic reading.

Crypto market experts share this enthusiasm. Analyst Mikybull Crypto has identified $2,000 and $2,250 as the next hurdles to overcome.

Even bolder, Crypto Claws states that ETH is “ready for a major bullish reversal” and targets a range between $2,500 and $3,500. This progression is already attracting many investors on Binance and leading exchanges.

Fundamentals strengthen significantly

On-chain data strengthens this technical recovery. The total value locked (TVL) on Ethereum rose from $44.5 billion in early April to $52.8 billion at the start of May, an impressive 41% increase in one month. This key metric confirms investors’ renewed confidence.

Decentralized applications built on Ethereum also show signs of vitality. Deposits on BlackRock BUIDL increased by 50%, those on Spark by 33%, and on Ether.fi by 25%. These figures reflect an ecosystem in full expansion despite previous challenges.

The recent Pectra update, deployed on May 7, could amplify this trend. Although its immediate impact seems limited, the improvements it brings to the network’s architecture could further boost activity and justify a higher valuation in the weeks to come.

After difficult months and despite competition from Bitcoin ETFs, Ethereum seems to finally regain its strength. If the next resistances are successfully breached, the psychological level of $3,000 could be reached in the near future, marking the true comeback of the crypto asset.