Technically, over a number of timescales, Ethereum’s price behavior reveals remarkably encouraging indicators. With a breakout over $2,677, the daily chart displays a descending triangle formation that might potentially initiate a slow advance toward $3,100–$3,200. This target zone corresponds to historical resistance levels and roughly represents a 20% upside from current levels.

The Relative Strength Index (RSI) indicates a potential for further growth at 68.50, where it exhibits strong momentum without approaching overbought levels. On the two-week chart, ETH has also reclaimed the pivotal Gaussian Channel mid-line at about $2,600, a technical mark that typically precedes significant rallies and altseason intervals.

This optimistic attitude is supported by historical evidence. In 2020–2021, after closing above the Gaussian mid-line, ETH surged from $400 to more than $4,800. ETH followed a similar pattern in late 2023, rising from below $1,500 to about $4,000 in less than a year. The next major barrier is located in the upper band of the channel near $3,200, with a possible breakthrough opening routes toward the previous cycle high of $4,100.

Institutional Interest Is Signaled by Futures Market Activity

The derivatives market is reflecting the rise in institutional involvement, with Ethereum futures open interest reaching an all-time high of $36.1 billion, a $3.5 billion increase in only one day. This 72% monthly increase in open interest indicates a growth in leverage and trading activity.

However, market watchers caution about leverage-induced volatility. According to CryptoQuant statistics, eight of ten leverage-fueled rallies over the previous thirty days resulted in negative returns, highlighting the necessity of sustainable price discovery over speculative pumps.

Will Altseason Be Started by Ethereum’s Rally?

The broader cryptocurrency landscape may be significantly impacted by Ethereum’s technological innovation. The aggregate altcoin market cap (excluding ETH) has risen 1,400% and 200% after similar technical confirmations in previous cycles, indicating that ETH’s Gaussian Channel breakouts preceded significant altcoin rallies.

The period corresponds to post-Bitcoin halving trends, where dominance of Bitcoin typically declines 400 days after halving events. The April 2024 halving is almost here, and analysts predict that if historical trends continue, the altcoin market capitalization might grow to $15 trillion.

Ethereum Price Prediction

Technical analysis and market dynamics now indicate that Ethereum is poised for a potential breakout toward $3,000 to $3,200 shortly. This hopeful notion is supported by historical precedent, technological pattern completeness, and corporate treasury acceptance.

$2,720 (immediate resistance), $2,800 (secondary resistance), and $3,200 (breakthrough target) are crucial resistance levels to monitor. $2,580, $2,520, and $2,460 remain the support levels.

The $3,000 successful hack might signal the beginning of a long altseason and encourage the crypto market’s overall strength. However, traders should watch the crucial $2,300–$2,500 support zone, where a significant holding concentration still exists, and be cautious of leverage-driven volatility.

Risk Elements and Price Exposure

Despite its good technical signals, Ethereum has obvious downside dangers. More than $123 billion of Ethereum’s market capitalization is owned by investors with cost bases ranging from $2,300 to $2,500. Vulnerability is made feasible by this concentration since any price decline below this range could trigger panic selling by underwater holders.

Moreover, Ethereum network fundamentals provide contradictory messages. Although average daily fees have remained above $1 million since May 9, 2025, they are still significantly lower than those in Q1 2024, which is indicative of decreased network activity and DApp participation.