Ethereum is experiencing increased volatility as it consolidates just below the key $2,700 resistance level. Despite several attempts to break above it in recent weeks, ETH has yet to secure a daily close above this threshold, making it a crucial battleground for bulls and bears alike. The broader market remains uncertain, but Ethereum’s fundamentals continue to show strength beneath the surface. Related Reading: Ethereum Tests Key Weekly Resistance – Analyst Sets $4K Target If ETH Breaks Out Top analyst Ted Pillows shared compelling insights on X, highlighting that Ethereum’s daily gas usage has been climbing steadily since 2016. This long-term rise suggests that Ethereum’s network activity is not just driven by short-term speculation or hype, but by real and growing demand. It’s a sign that users, developers, and applications are increasingly relying on ETH as the backbone of Web3 infrastructure. Ethereum’s ability to maintain this level of on-chain usage through bear and bull markets reinforces its role as the foundation of decentralized finance, NFTs, and smart contracts. While short-term price action remains capped below $2,700, the underlying demand tells a bullish story. If ETH can break above this level with conviction, it may signal the beginning of a broader move to retest higher resistance levels. Ethereum Fundamentals Are Strong As It Prepares For A Move Ethereum is facing a critical test as it consolidates below major resistance, struggling to reclaim key levels above the $2,700 mark. Bulls have maintained strong support over the past few sessions, but momentum has yet to trigger a breakout. As global tensions remain high and US Treasury yields continue to rise, risk assets—including cryptocurrencies—are under pressure. However, Ethereum appears poised for an expansive move, with technical and on-chain data supporting a potential breakout. Pillows highlighted that Ethereum’s daily gas usage has continued to climb steadily since 2016, reinforcing the view that ETH demand is structural and not just a product of market hype. This metric serves as a proxy for real activity on the Ethereum network, suggesting that despite short-term price hurdles, usage and value creation persist. Pillows believes this persistent demand positions ETH for a strong recovery once key technical levels are breached. Sentiment across the broader crypto space is gradually shifting bullish, especially with Bitcoin hovering near its all-time high. If Ethereum can reclaim and close above the $2,700–$2,800 resistance zone, it could open the door for a sharp rally toward $3,000 and beyond. Related Reading: Ethereum Spot Premium Signals Strength – $2,800 Resistance In Focus ETH Consolidates Below Key Resistance Ethereum is currently trading at $2,617, consolidating just below the critical $2,700–$2,800 resistance zone. This area has acted as a major barrier since early February, and despite several breakout attempts, ETH has failed to close above it with strong conviction. The chart shows a clear bullish structure, with the price holding above key moving averages: the 34 EMA at $2,366, and the 50, 100, and 200 SMAs all trending upward and providing layered support between $2,070 and $2,690. The recent consolidation comes after a strong rally in May that pushed ETH above its 200-day SMA for the first time in months, signaling a major shift in momentum. However, volume has started to taper off slightly, which could indicate hesitation from bulls at current levels. A decisive daily close above $2,800 would likely confirm the breakout and open the door for a move toward the $3,000–$3,200 range. Related Reading: Altseason Loading? Analyst Explains How FTX $5B Distribution May Trigger The Next Bull Leg Until then, the price remains range-bound, with $2,550 acting as near-term support. If ETH can maintain this level and continue forming higher lows, the bullish thesis remains intact. All eyes are now on whether Ethereum can break through the ceiling that has capped it for weeks, and potentially kickstart a broader altcoin rally. Featured image from Dall-E, chart from TradingView
According to a crypto analyst, the Ethereum price is on the verge of a breakout, and investors who don’t buy it now could be left with regrets later. With technical indicators pointing towards a significant price surge, the analyst forecasts that Ethereum (ETH) could climb as high as $12,000 this bull cycle. Ethereum Price Headed To $12,000? Prominent crypto analyst Captain Faibik has issued a stark warning to investors, urging them to buy Ethereum at a particular price low or risk entering the market late and regretting it. With Ethereum’s current price action signaling a potential bullish breakout, Faibik predicts that the cryptocurrency can hit a new all-time high of $12,000 in 2025. Related Reading: Ethereum Gets Massive $12,000 Price Tag From Research Lead Ahead Of Major Upgrade Looking at the analyst’s Ethereum price chart, the timeline for this ambitious projection is set around Q4 2025, more than eight months from now. Faibik indicated that Ethereum has been within a consolidation symmetrical Triangle for a while and finally looks ready to bottom. This week, Ethereum appears to have broken through the descending resistance line of the symmetrical triangle, indicating the start of a potential price rebound. Faibik believes Ethereum has likely hit its market bottom at $2,648 and could go up from here. Historically, cryptocurrencies that reach a bottom tend to experience a major rally as prices stabilize and momentum builds after consolidation. In the case of Ethereum, Faibik has highlighted the purported $2,648 price bottom as a key buy-the-dip opportunity. Furthermore, the analyst suggested that entering the market at this level was crucial, as investors risk missing out on potential gains. Faibik predicts that once Ethereum initiates a bounce back, its price could skyrocket as high as $12,000. This massive rally would represent a 353.7% surge, marking Ethereum’s highest price increase since its previous bull run. Sharing similar bullish sentiments, Kazi, another crypto analyst on X, forecasts that Ethereum will reach $12,203. The analyst also highlighted a breakout from a symmetrical triangle as the trigger for this bullish surge to new ATHs. ETH Gas Fees Crash, Sparks Rally Speculations In other news, Ethereum’s gas fees have experienced a significant crash, sparking rumours of a potential price rally. Crypto analyst Merlijn the Trader announced this report to his over 312,000 followers on X. The analyst revealed that the Ethereum founder, Vitalik Buterin, had previously promised to fix the initial high gas fees, making them more affordable for the network users. Related Reading: Ethereum’s Large Consolidation Trend Points To Possible Price Explosion To $8,000 Now, average Ethereum gas fees are down to 0.794 gwei ($0.04), marking a major decrease from their previous high of 0.873 gwei ($0.05). Due to this unexpected but highly welcomed development, Merlijn the Trader, questions whether the crash in Ethereum’s gas fees is signaling the start of ETH’s next rally. Featured image from Adobe Stock, chart from Tradingview.com
Ethereum is under pressure at spot rates. As of September 12, the second most valuable coin struggled for momentum and stuck below $2,400. The daily chart shows that ETH is selling off steadily, and the zone between $2,400 and $2,800 is proving to be a strong liquidation region. Ethereum Revenue Falls To May 2020 Levels […]
According to the latest on-chain observation, gas fees on the Ethereum network have fallen to their lowest level in nearly two months. How will this impact the price of ETH? Ethereum Network Activity Wanes Ahead Of Spot ETF In a new Quicktake post, a pseudonymous analyst revealed that the activity on the Ethereum network has […]