Ethereum Tests Resistance, Could Reach $3.000, Analysts Say

• Ethereum forms bullish pattern with target at $3.000
• Golden cross suggests possible appreciation up to US$5.000
• Open interest in ETH grows among investors

Ethereum (ETH) has once again caught the market’s attention after forming a classic technical trend reversal pattern, known as an inverted “head and shoulders.” The breakout of the resistance located at $2.588 is seen by analysts as an important trigger for a possible move towards $3.000.

Ali Martinez identified this pattern on the Ethereum chart, noting that the structure has a left shoulder, a bottom at $2.300, and a right shoulder, with the neckline pressing against the aforementioned resistance range. If the breakout is confirmed with consistent volume, a quick move towards $3.000 is expected.

If #Ethereum $ ETH breaks above the $2,588 resistance, it could trigger a bullish move toward $3,000. pic.twitter.com/yRrHAoyhnk

— Ali (@ali_charts) May 21, 2025

Furthermore, the presence of a golden cross — when the 50-day moving average crosses above the 200-day moving average — reinforces the thesis of ETH’s appreciation. This graphical signal is often interpreted as an indication of buying strength and a possible long-lasting uptrend. The last two similar formations in 2023 and 2024 were followed by strong triple-digit rallies.

Crypto Patel, another industry analyst, noted that Ethereum has already accumulated a 95% increase since its recent low of $1.400. According to him, ETH could seek levels between $8.000 and $10.000 in a longer cycle, especially if it surpasses the old all-time high near $4.800. Patel also suggested that pullbacks to the $2.000–2.200 zone could represent good entry opportunities.

Hope you didn't miss the $1,400 $ ETH entry — because we're already up ~95% from the bottom! 🔥

Still bullish on I #ETHERE long term

🔰 If price dips to the $2,000–$2,200 zone, that's a solid re-entry opportunity.

🔰 My Target for this cycle remains $8000-$10,000 — and this… pic.twitter.com/Af1nkN1a9l

— Crypto Patel (@CryptoPatel) May 21, 2025

Open interest in Ethereum futures has also surged in the past 48 hours, according to Coinglass data, indicating increased appetite among traders for exposure to the cryptocurrency. Funding rates remain positive, reflecting a slight predominance of long positions. The long/short ratio is at 1,15 across major exchanges.

If the resistance at $2.588 is overcome with force, technical indicators and on-chain data signal a possible continuation of the bullish movement for ETH.