ETH’s price reclaims $3,100 after a strong rebound and bullish signals.
Indicators show rising momentum, supported by BlackRock accumulation.
Can ETH break above $3,541 open the path for the price to reach $3,876?
Ethereum (ETH) price has broken past $3,100 again, just days after speculation spread that it could slide below $2,500.
This development happened after ETH registered a 5.37% increase over the last seven days, and the project completed the Fuska upgrade.
Additionally, the move appears to have transformed the previous resistance into support, with indicators suggesting that ETH could continue to rise higher.
Ethereum Price Breaks Out
A look at the charts shows that the last few weeks have been challenging for ETH.
On Nov. 21, the price slipped to $2,653, a level it had not touched in months. However, market conditions now appear to be shifting.
At the time of writing, the 4-hour chart indicates that Ethereum’s price has broken above a key resistance level, suggesting that buyers are regaining control.
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Supporting this improvement, the Chaikin Money Flow (CMF) has climbed above the zero signal line, confirming a return of buying pressure.
Additionally, the Moving Average Convergence Divergence (MACD) has formed a bullish crossover for the first time since Nov. 22, indicating that momentum is turning upward.
If bulls continue to defend the $2,672 support, the broader trend could strengthen.
Fusaka Goes Live
Under sustained buying pressure, ETH’s price might advance toward $3,902, marking a significant recovery from recent lows, especially after the finalization of the Fusaka upgrade.
“Fusaka is live on Ethereum mainnet! – PeerDAS now unlocks 8x data throughput for rollups – UX improvements via the R1 curve & pre-confirmatons – Prep for scaling the L1 with gas limit increase & more,” The project revealed.
Outside of the technical setup, institutional activity is also turning favorable for Ethereum.
BlackRock, Tom Lee Add More ETH
Just yesterday, BlackRock accumulated approximately $53 million worth of ETH. Data from Arkham shows that Tom Lee has also added $150 million worth of ETH to his stash.
“Crypto prices have fallen relentlessly even as fundamentals, measured by wallets, onchain, fees or tokenizatio, have moved forward So risk/reward is attractive for $BTC and $ETH,” Lee stated on Dec. 1.
Such accumulation reflects a long-term outlook rather than short-term speculation, lending weight to the growing bullish sentiment surrounding the asset.
Liquidity Calls
At the same time, a look at the 30-day liquidation heatmaps reveals a notable concentration of liquidity around $3,678.
This cluster suggests that a significant number of leveraged positions are positioned near that level. When liquidity pools form in this manner, the price tends to gravitate toward them.
Therefore, if the cryptocurrency maintains this current structure, Ethereum’s price could be drawn toward this zone in the coming sessions.
ETH Price Prediction: Bullish
Looking at the daily chart, Ethereum’s price has broken out above the upper trendline of a falling wedge.
At the same time, the Bull Bear Power (BBP) has turned positive, indicating that buyers are gaining control over market direction.
The Relative Strength Index (RSI) has also crossed above the neutral line, confirming improving momentum and growing demand.
If this trend continues, ETH’s price could breach the resistance at $3,541. A successful move above that level would open the door for a push toward $3,876, where the next significant resistance cluster sits.
Sustained bullish pressure and rising volume would increase the likelihood of this scenario unfolding.
However, the outlook changes if bearish pressure returns.
Failure to maintain the breakout could invalidate the bullish setup. In that case, ETH’s price may retrace toward $2,403, revisiting lower support as the market resets.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
