Ethereum

bullish

Daily

Gains

<p>Ethereum has recently seen a surge in demand near the crucial $2.1K support zone, resulting in a significant bullish retracement. The price has now reclaimed the middle threshold of the multi-month descending channel, suggesting the potential for further gains toward the upper boundary near $3K.</p> 
<h1 id="technical-analysis">Technical Analysis</h1> 
<p>By <a href="https://www.linkedin.com/in/shayan-navabi-522107248/" data-wpel-link="external" target="_blank">Shayan</a></p> 
<h2 id="the-daily-chart">The Daily Chart</h2> 
<p>On the daily chart, Ethereum experienced increased buying pressure near the critical support region around the lower trendline of the multi-month descending channel, which aligns with the $2.1K support zone.</p> 
<p>This resurgence in demand triggered a bullish reversal, pushing the price above a critical resistance area that includes the channel’s middle boundary at $2,530 and $2.5K. Reclaiming this zone signals a potential shift in market sentiment toward bullishness, albeit temporarily.</p> 
<p>However, Ethereum is approaching a crucial barrier of around $2.8K, where sellers will likely step up. The price action at this level will be pivotal in determining Ethereum’s medium-term direction. A successful breakout could signal the continuation of the bullish trend, while failure to clear this resistance may lead to renewed selling pressure.</p> 
<figure id="attachment_361856" aria-describedby="caption-attachment-361856" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-scaled.jpg" data-wpel-link="internal"><img class="wp-image-361856 size-full" src="https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-scaled.jpg" alt="eth_price_chart_2309241" width="2560" height="1307" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-300x153.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-1024x523.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-768x392.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-1536x784.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-2048x1046.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-50x26.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-361856" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure> 
<h2 id="the-4-hour-chart">The 4-Hour Chart</h2> 
<p>On the 4-hour chart, Ethereum saw a strong surge from the $2.1K support zone, corresponding with the flag pattern’s lower boundary.</p> 
<p>This upward momentum carried the price toward the critical resistance range between the 0.5 ($2.6K) and 0.618 ($2.8K) Fibonacci levels. The short-term action suggests that the bearish momentum has subsided, with buyers now attempting to push the price above the $2.8K resistance.</p> 
<p>The $2.8K level has been a strong barrier for the bulls in recent months, filled with supply and selling pressure. However, Ethereum could see a breakout if the momentum persists, leading to a short-squeeze and further gains.</p> 
<p>On the other hand, a rejection at this crucial resistance may result in a continued sideways consolidation within the flag pattern, maintaining short-term uncertainty.</p> 
<figure id="attachment_361856" aria-describedby="caption-attachment-361856" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-scaled.jpg" data-wpel-link="internal"><img class="wp-image-361856 size-full" src="https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-scaled.jpg" alt="eth_price_chart_2309241" width="2560" height="1307" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-300x153.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-1024x523.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-768x392.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-1536x784.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-2048x1046.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/09/ETH-4H-4-50x26.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-361856" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure> 
<h1 id="onchain-analysis">Onchain Analysis</h1> 
<p>By <a href="https://www.linkedin.com/in/shayan-navabi-522107248/" data-wpel-link="external" target="_blank">Shayan</a></p> 
<p>As Ethereum’s price continues to form higher highs and lows, approaching the $2.8K level, insights from the Binance liquidation heatmap provide valuable context for this movement. The ETH/USDT heatmap highlights significant liquidity pools often targeted by larger market participants or so-called “smart money.”</p> 
<p>According to the heatmap, the $2.8K level contains the highest concentration of liquidity near Ethereum’s current price. Liquidity tends to act as a magnet for price, drawing the market toward these pools. As a result, this zone has become a key short-term target for Ethereum.</p> 
<p>Given this dynamic, a bullish continuation toward the $2.8K level is highly likely driven by the market’s tendency to gravitate toward high liquidity areas. This makes the $2.8K price range a critical area to monitor, as a potential breakout above this level could signal the continuation of Ethereum’s current upward trend.</p> 
<figure id="attachment_361854" aria-describedby="caption-attachment-361854" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/09/Binance_ETH_USDT_Liquidation_Heatmap3_month_2024_09_23_11_24_06-scaled.jpg" data-wpel-link="internal"><img class="wp-image-361854 size-full" src="https://cryptopotato.com/wp-content/uploads/2024/09/Binance_ETH_USDT_Liquidation_Heatmap3_month_2024_09_23_11_24_06-scaled.jpg" alt="eth_usdt_liquidation_heatmap_2309241" width="2560" height="1877" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/Binance_ETH_USDT_Liquidation_Heatmap3_month_2024_09_23_11_24_06-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/09/Binance_ETH_USDT_Liquidation_Heatmap3_month_2024_09_23_11_24_06-300x220.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/09/Binance_ETH_USDT_Liquidation_Heatmap3_month_2024_09_23_11_24_06-1024x751.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/Binance_ETH_USDT_Liquidation_Heatmap3_month_2024_09_23_11_24_06-768x563.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/09/Binance_ETH_USDT_Liquidation_Heatmap3_month_2024_09_23_11_24_06-1536x1126.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/Binance_ETH_USDT_Liquidation_Heatmap3_month_2024_09_23_11_24_06-2048x1502.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/09/Binance_ETH_USDT_Liquidation_Heatmap3_month_2024_09_23_11_24_06-50x37.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-361854" class="wp-caption-text">
  Source: Coinglass
 </figcaption>
</figure> 
<p>The post <a href="https://cryptopotato.com/ethereum-price-analysis-bulls-eye-3000-as-next-target-as-eth-charts-14-weekly-gains/" rel="nofollow">Ethereum Price Analysis: Bulls Eye $3,000 as Next Target as ETH Charts 14% Weekly Gains</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

Ethereum Price Analysis: Bulls Eye $3,000 as Next Target as ETH Charts 14% Weekly Gains

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