#精品内容  Ethereum finally breaks its chains — is $3,000 the new target for ETH?

Ether has broken its months-long downtrend as investors target $3,000 for ETH.

Ethereum TVL increased by 41% in 30 days to $52.8 billion, and daily transactions increased by 22% to 1.34 million, signaling a strong network recovery.

Technical data suggests that ETH is facing major resistance at $2,100-2,800.

Ether is poised for a rally toward the psychological $3,000 level, supported by recovering network activity, rising TVL, and strong technical data.

Ether price aims to return to $3,000

Ether ETHUSD  is aiming to end a downtrend that has been ongoing since mid-December after moving away from its 10-month peak of $4,100.

The crypto analyst shared a chart showing the ETH price breaking above a six-month descending trendline, saying that $2,000 to $2,250 are key resistance levels to watch:

“ETH is breaking its chains.”

The price of Ether broke above the downtrend line at $1,600 on April 22 as cooling macroeconomic tensions triggered a market-wide rally.

The 50-day simple moving average (SMA) at $1,775 is now acting as immediate support for the price of Ether.

The relative strength index has risen sharply, jumping from 56 to 66 in the past 24 hours, suggesting that bullish momentum is increasing.

Key levels to watch on the upside are the 100-day SMA at $2,100 and the supplier congestion zone between $2,500 and $2,800, where the 200-day SMA is located. Breaking these hurdles will likely push ETH prices higher, with the short-term target for bulls at $3,000.

The crypto analyst said that the ETHUSD pair is “poised for a bullish reversal” and set the upside target between $2,500 and $3,500.

Meanwhile, Crypto Salamanca told his followers that “ETH could target the $2,150–$2,700 range in the coming weeks,” with momentum boosted by the recent Pectra upgrade.

Ethereum on-chain metrics show strength

Ethereum remains the largest first-tier blockchain by total value locked (TVL) and ranks second in DEX volumes.

Ethereum’s TVL rose from $44.5 billion on April 9 to $52.8 billion on May 8.

Other positive signs include a 50% increase in deposits at BlackRock BUIDL, a digital liquidity fund app, a 33% increase at Spark, and a 25% growth at Ether fi.

Ethereum’s daily transaction count has increased by 22% in the past month, reaching 1.34 million transactions.

However, the 95% drop in Ethereum fees since the beginning of the year suggests that Ethereum’s $3,000 rally may take longer than investors want.

Low transaction activity on Ethereum reduces ETH burning, leading to inflation as new coins mined for staking rewards outstrip the network’s burn mechanism.

Additionally, US-listed spot Ether ETFs saw net outflows of $39.7 million between May 5 and 7, while similar BTC instruments saw net inflows of $482 million during the same period, raising concerns about a recovery.