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As the crypto market approaches the $2.20T market, Bitcoin eyes $64K, and Ethereum shows a bull run gaining momentum this week. Following the 7.53% run last week and a 5.8% jump a week before, the Ethereum price surpasses the $2,500 psychological mark.  
Will the recovery rally in Ethereum surpass critical levels to reach $3,000 before October? Read our Ethereum price analysis now to learn more.&nbsp;  
<h2 class="wp-block-heading" id="h-ethereum-price-analysis">Ethereum Price Analysis</h2>  
In the daily chart, the Ethereum price action reveals a falling wedge pattern breakout gaining momentum over the past seven days. The ETH price has managed to score six bullish candles, accounting for a price jump of 15.67%.&nbsp;  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfF9hTSrJuE0K4lv9qTV1Wv_thA5ZHp5q_o88u3WZ98py8vhIjjagkndjGczKjN4Szj-Qoye-cROomB31OUq54FR0jxA4fM_2puRsiE6ezk-l2e6T2dYPq2JpGUdaN6NUEdTvEQJmFfFY6KbP4rqTFAfN34?key=Jx7lwWSE9WK1Th9Zd0KruQ" alt="">
</figure>  
<a href="https://www.tradingview.com/x/sSkaUNEb/" rel="noopener noreferrer nofollow">Tradingview</a>  
As the uptrend surpasses the 23.60% Fibonacci level and the 50-day EMA, Ethereum's price currently trades at $2,654. With an intraday gain of 2.91%, the biggest altcoin sustains dominance above the 23.60% Fibonacci level.&nbsp;  
As the bullish trend gains momentum, the uptrend is likely to challenge the 200-day EMA near the 38.20% Fibonacci level at $2,860.  
In the weekly chart, the Ethereum price action shows a pullback phase, taking a reversal from the 200-week EMA. With low price action from the dynamic support, the bullish reversal tests the 50-week EMA.&nbsp;  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfVeIIyqfh5kp1pb3Jm4R8rgmE1MDFZMscNX65E2yii7vOFvnqc6wsUDRQiYF8r64eUm0rEu2XscsLv7lTygDd5s8fhbI5EtM2RkmznO_qKtTzqzJxDk43lJKLCUK7Shu8o3B7-sAnn9D6Ut2rKceZxSd8?key=Jx7lwWSE9WK1Th9Zd0KruQ" alt="">
</figure>  
<a href="https://www.tradingview.com/x/ycOooxQ5" rel="noopener noreferrer nofollow">https://www.tradingview.com/x/ycOooxQ5</a>  
Further, with a V-shaped reversal, the uptrend in the Ethereum price nearly challenges the 50% Fibonacci level in the weekly chart at $2,850.  
Technical Indicators:  
EMA: The uptick in the 50D increases the likelihood of a golden crossover with the 200D EMA.&nbsp;  
RSI: The RSI line in the daily chart is close to approaching the overbought boundary line as it surpasses the 50% level. Meanwhile, the RSI line in the weekly chart takes a bullish reversal before hitting the oversold boundary from the 37.84 level.&nbsp;  
<h2 class="wp-block-heading" id="h-will-eth-price-cross-3-000">Will ETH Price Cross $3,000?</h2>  
With the turnaround rally from the 200W EMA, Ethereum surpasses crucial resistances in the daily chart. Based on the Fibonacci levels, the Ethereum price reversal approaches the 38.20% Fibonacci level at $2,860.  
Furthermore, the uptrend in the ETH price is likely to target the $3,091 and $3,321 mark. Conversely, ETH's support levels are at $2,500 and $2,100.&nbsp;  
Wondering if the bull run in Ethereum price will surpass $4,000 in 2024? Find out now in Coinpedia’s well-rounded <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" rel="noopener noreferrer nofollow">ETH price prediction</a>!

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