Ethereum Maintains Key Support: Analysts Look for Breakout Above $3,000

• Ethereum continues with its uptrend, keeping strong above-major long-term support.
• Buyers are supporting Ethereum’s trendline, driving a slow recovery with higher lows.
• Busting $2,500 and $3,000 would confirm Ethereum’s bullish market formation.

Ethereum remains above its long-term support trendline, showing resilience against market volatility. The asset keeps going higher, with solid resistance levels in front that could determine its next breakout.

Ethereum Holds Long-Term Support as Uptrend Structure Remains Intact

Ethereum’s price action remains within a structured uptrend, maintaining support along its long-term trendline. Since 2021, ETH has tested this support only three times, each resulting in a strong rebound.

The price previously reached an all-time high above $4,800 before entering a prolonged downtrend. A significant correction followed, with Ethereum forming lower highs and lower lows over an extended period.

This structured uptrend aligns with a recent assessment from market analyst Ted Pillows, who emphasizes Ethereum’s ability to maintain its long-term trendline. According to his analysis, ETH has consistently rebounded from this level, confirming its strength as a critical support zone. The latest test saw buyers stepping in, leading to multiple green weekly candles. Despite lower trading volume compared to past major rallies, Ethereum continues reclaiming key price levels.

Source: TedPillows

Ethereum’s Market Structure and Historical Price Trends

Ethereum’s broader trend remains in place after prior corrections, complementing its tidy price action. The asset has consistently rebounded from strong support levels before initiating larger rallies.

The current uptrend also demonstrates similar characteristics with ETH repeating higher highs and higher lows. Maintaining price strength above the trendline remains critical for continued bullish momentum.

Candlestick patterns indicate strong buying pressure at support levels, supporting optimism. As long as Ethereum is above its rising support, market conditions favor further increase. Macroeconomics and volume are still dominant factors that influence future price action.

Critical Resistance Levels and Future Outlook

Ted Pillows’ technical projection charts outright resistance at $2,500, and a more solid key support level at $3,000. A decisive break of these levels could accelerate Ethereum’s upward climb.

Historical data indicates old support levels disintegrating into resistance, and therefore such levels are significant to monitor. In case Ethereum is able to cross these levels, the long-term bullish scenario remains intact.