The price of Ethereum currency continues to attempt to hold on to the $3,000 pivot level while continuing to attract additional buyers despite the recent decline, and the price of the coin is currently stable with a decline over the last 24 hours of around 1.35% to $2,997.90, with the market value reaching $361.8 billion. Although the currency is still under pressure, continued defense of this zone by buyers suggests that the price is ready for a decisive departure.
As the overall mood continues to improve, traders are asking the same question: will Ethereum’s price movements quietly establish a solid starting base to reach $5,000?
Technical analysis of Ethereum price movements indicates that it is still stuck in a descending channel.
Examining the chart of Ethereum’s daily price movements shows that it continues to move in a descending channel that has limited any rebound since mid-October. The failure to breach the $3,108 level – which is stable below the 20-day exponential moving average (EMA-20) line – confirmed the strength of the resistance barrier for the foreseeable future.
A review of recent trading candlestick patterns also indicates the same conclusion, as they have small bodies and elongated tails that reflect the intervention of buyers but with hesitation and lack of conviction, which strengthens the possibility of retesting the critical support level at $2,632, which corresponds to an ascending trendline extending since the beginning of 2023, the intersection of which with the lower boundary of the channel constitutes the most important technical support area on the chart.
On the other hand, a relative strength index (RSI) near 40 indicates weak momentum, but it has not yet reached the oversold zone, leaving room for a reversal or continued decline.
The most important indicators likely to decline are:
- Price remains restricted below the upper boundary of its descending channel
- It failed to regain its position above the EMA-20 line
- RSI indicator does not show upward divergence
What Ethereum Price Needs to Reverse its Downtrend
Ethereum price expectations will remain bearish as long as it remains stuck in its descending channel, and the move to positivity requires a decisive daily close above the $3,108 level to create the first breakout in the structure of the downward trajectory since the start of the decline, especially since this level is located directly below the $3,666 zone where sellers intervened strongly at the beginning of this quarter, and above, the main barrier Resistance lies at $4,242, limiting price upside this summer.
If Ethereum price manages to break through its descending channel and regain these barriers, it could quickly gain additional momentum that could shift talk from recovery to continuing towards $5,000, especially if markets regain risk appetite and activity on the blockchain increases sharply in early 2026.
A proposed trading strategy and prospects for moving towards $5,000
For traders, the optimal entry remains around the $2,632 level. Favorable setups for bullish speculation may be available if a strong bullish engulfing candlestick or higher bottom forms at the extended trendline, with a stop loss below the $2,500 level, which would provide a logical path to target the $3,108 barrier, followed by $3,666, ending in the $4,200-$5,000 range if the breakout wave takes hold. the magnitude.
As Ethereum supporters continue to defend the bullish trend structure and the market shows the first signs of stabilization, this period may present a favorable opportunity for a strategic entry, especially for those tracking new coin offerings and catalysts for continued bull market activity.
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Post-Ethereum-ETH Price Forecast: Amid attempts to defend the crucial $3,000 support level, does this indicate a start towards $5,000? appeared first on Cryptonews Arabic.
