Ethereum (ETH) is approaching a critical resistance level near $3,100, and a decisive breakout may potentially trigger upward momentum, with analysts observing targets as high as $5,000.
After recent fluctuations below $3,000, Ethereum shows signs of renewed activity. Traders are tracking trend support near $2,900, while the upcoming Fusaka upgrade may influence network efficiency and transaction processing.
Ethereum Faces Key Resistance Levels
Over the past week, the Ethereum price has hovered around $3,018, with resistance observed near $3,100–$3,200. According to TradingView analyst “CryptoTrendX,” specializing in multi-year trend analysis, ETH is currently holding above trend support at approximately $2,900. Trend support refers to price levels where buyers historically re-enter the market, potentially preventing deeper declines.
A confirmed breakout of Ethereum above $3,100, supported by strong volume and a daily close, could signal a new bullish phase with an initial target near $5,000. Source: MMBTtrader on TradingView
CryptoTrendX explained, “A decisive move above $3,100 may open pathways toward $5,000, aligning with measured-move projections from recent consolidation patterns.” Measured moves are a charting technique used to estimate potential price targets based on previous price swings.
Recent Market Sentiment and Holder Activity
Ethereum faced a short-term pullback, declining roughly 6% to $2,805. Glassnode on-chain metrics data shows long-term holders (LTHs)—those holding ETH for 2–3 years—reduced their circulating share from 8.51% to 7.33% since early November. LTHs typically act as stable market participants, and their reduction in holdings historically influences price stability.
Ethereum is struggling to reclaim momentum below $3,000 as long-term holders reduce their positions, according to Glassnode’s HODL Waves data. Source: glassnode
Despite this, the network has seen a 13.4% increase in new addresses over the past week, rising from 141,650 to 160,690. New addresses can indicate fresh investor interest, which may offset reductions in LTH participation.
Technical Analysis and Price Targets
Technical charts from TradingView and CryptoQuant data suggest:
Support levels: $2,718, $2,780, $2,850
Resistance levels: $3,030, $3,095–$3,100
Bullish Scenario (Conditional Observation):
ETH may find trend support and attempt to reclaim higher levels.
Targets observed include $3,030 initially, with a potential move toward $3,095–$3,100.
A sustained break above $3,100 could, according to analysts, allow for further upward momentum toward $5,000, although this is contingent on volume and trend confirmation.
ETH rebounded from $2,718 and now holds above $2,850, supporting a bullish push toward $3,030–$3,100, while a drop below $2,850 risks a move back to $2,780–$2,718. Source: Elise-Golden-Spar on TradingView
Bearish Scenario (Conditional Observation):
If ETH does not hold support at $2,850, the short-term price may fluctuate toward $2,780 or $2,718.
Historical behavior shows that Ethereum can experience increased volatility near key resistance and support levels, especially around network upgrades.
Ethereum Outlook Amid Upcoming Fusaka Upgrade
According to the Ethereum Foundation’s December 2025 roadmap, the Fusaka upgrade aims to enhance transaction throughput, reduce latency, and optimize gas efficiency. These improvements could influence market sentiment and Ethereum’s technical patterns, though network upgrades often have delayed or staggered market impacts.
Ethereum was trading at around 3,063.04, up 9.36% in the last 24 hours at press time. Source: Ethereum price via Brave New Coin
Analysts stress that while technical indicators suggest bullish potential, external factors such as macroeconomic conditions, ETF flows, and broader crypto market dynamics may affect outcomes. Past Ethereum cycles show that major upgrades and resistance breaks can produce volatile but notable price movements.
Looking Ahead: Ethereum Price Forecast
In summary, Ethereum’s price analysis indicates that breaking the $3,100 resistance level may result in renewed upward momentum, with near-term technical targets at $3,030 and potential longer-term observations toward $5,000. Conversely, failure to maintain trend support near $2,850 could lead to short-term fluctuations.
For those following Ethereum news today, monitoring network activity, resistance and support levels, and investor participation provides insight into potential market behavior—not a guarantee of future returns.