Ethereum is trading around $3,558 after gaining 2.27% in the past 24 hours, supported by a robust $22.46 billion in trading volume.
While the asset is still down more than 8% on the week, analysts are split on whether the current rebound marks the start of a new rally or just a pause before further declines.
$3,000 Zone Emerges as Critical Battleground
Market strategist Ali has pinpointed two key support areas at $2,924 and $2,750. These levels represent points of heavy accumulation in the past, making them critical for Ethereum’s near-term direction.
A firm hold above these zones could strengthen buyer confidence, while a break below them could trigger deeper losses.
Bullish Case: Path Toward $4,500 and Beyond
Bounce Gaining Momentum
Michaël van de Poppe believes the recent rebound is encouraging, even if it’s not yet a confirmed breakout. Holding above $3,000 could provide the launchpad for a climb toward $4,000, and breaching that barrier could set sights on $4,500 or higher.
Trading Volume Signals Strength
Over $22 billion in daily trading activity shows heightened market interest, often a sign that larger investors are positioning for a major move. If buying pressure continues, Ethereum could be one catalyst away from accelerating toward new all-time highs in 2026.
Bearish Case: Risk of Revisiting Lows
Bounce May Be Short-Lived
While the current uptick has relieved some selling pressure, Van de Poppe warns it may not last. If momentum stalls, there’s a strong chance Ethereum could revisit recent lows before attempting another rally.
Support Break Could Trigger Deeper Pullback
A fall below $2,924 could quickly test the $2,750 level, and failure there might invite a sharper drop toward the $2,500 range. Such a scenario could shake investor confidence and delay any bullish breakout attempts well into next year.
The Bottom Line
The $3,000 zone is now the focal point for Ethereum traders. Bulls see it as the floor needed to spark a sustained move higher, while bears warn that losing it could drag ETH back into a deeper correction phase. With high trading volume, strong market interest, and key support levels in play, the coming weeks could determine whether Ethereum’s next chapter is a breakout or a breakdown.
If you want, I can now add a “price scenarios” graphic showing both the bullish and bearish targets visually — that would make the article more engaging for your readers.
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Source: https://coindoo.com/market/ethereum-price-recovery-gains-steam-but-will-3000-support-hold-or-crack/