Ethereum Retakes $3K: But There’s No Bull Case Until This Happens

Ethereum’s native token, Ether (ETH), climbed above $3,000 for the first time in January after trading for about $2,500 a week ago. The cryptocurrency’s climb followed Bitcoin’s (BTC) ascent to a new record high, as well as rising ETF inflows and Treasury accumulation.

But Ether sees a major hurdle in a multiyear trendline that it must break to pursue a clear uptrend.

Ethereum Faces Flipped Resistance Trendline as ETH Eyes $4,000 Next

Ether is now testing a multiyear ascending trendline that acted as strong support during its key accumulation phases since mid-2022.

The trendline, marked by at least five successful bounces (highlighted in red circles), had underpinned Ethereum’s bullish structure, until it broke down in April 2025.

ETH’s recent rally from $2,500 to over $3,000 brings it back to retest this trendline from below, a textbook move often observed during a potential support-turned-resistance flip.

If bulls reclaim this level, it would potentially pave the way for a broader breakout toward the $3,500–$4,100 range, levels aligned with the 0.618 and 0.786 Fibonacci retracement lines and a multiyear descending trendline resistance.

Failing to close above the ascending trendline could increase Ethereum’s odds of hitting the 0.382 Fib retracement level at around $2,500. A visibly overbought relative strength index (RSI) above 70 furthers such price correction risks.

ETH/BTC Technical Analysis: Ether Looks Set to Outperform Bitcoin

Ethereum is quietly gaining ground against Bitcoin, hinting at underlying market strength.

The ETH/BTC weekly chart shows a breakout from a classic bull flag—a continuation pattern that often signals renewed upside after a period of consolidation.

The move follows a strong rebound from ETH’s local bottom of 0.0184 BTC in April, forming a steep flagpole. Since then, price action has consolidated downward inside a tight channel, creating the flag structure.

This week’s breakout above the flag’s upper boundary suggests ETH is gearing up for a move toward the 0.0315 BTC area, Ethereum’s 2024 breakdown level and near its 50-week moving average. A successful climb to that resistance would mark a 25% gain from current levels.