These data points suggest that the price of Ether may soon reach $3 thousand
ether (ETH) is up more than 25% from February lows below $1,800, and a mix of technical and onchain signals suggest the recovery may still have room to run in May.
Main Receptors:
Ether technicals support the bulls with a $3,000 ETH price target. ETH holds a support zone that has previously triggered price corrections of 22%–27%.
ETH price charts target $3,000
As April approaches, Ether's technical setup on multiple time frames supports the bullish position for ETH price.
The ETH/USD pair has been forming a bullish flag chart pattern on the daily chart since early April as shown below.
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A bullish flag pattern is a bullish continuation pattern that is formed after the price consolidates in a low range following a sharp rise in price.
The flag will be resolved when the price breaks above the upper trend line at $2,350 and may rise against the previous high. This puts ETH's price target above $3,000 USD, which is about 33.5% of its current price.
ETH/USD Daily Chart. Source: Cointelegraph/Trading view
Meanwhile, the ascending triangle on the eight-hour chart suggests that ETH is preparing for a significant upward move.
A break above the top line of the triangle at $2,400 would confirm the pattern, opening a rally to the measured triangle target at $3,305. Such an action brings the total profit to 46%.
ETH/USD Daily Chart. Source: Cointelegraph/Trading view
Other technical settings are suggested ETH price may rise to $3,000-$6,000. In the coming months.
ETH price is sitting on strong support around $2,000
Since early February, ETH/USD has been making higher lows, with the price consistently respecting a multi-month support trend line.
Each retracement from this trendline has preceded price rallies of 22%–27%, often pushing ETH back or above the highs made since the last retracement. The current setup mirrors those earlier cycles.
ETH/USD Daily Chart. Source: Cointelegraph/Trading view
Ether is now consolidating trendline support around $2,000-$2,200, which coincides with the 50-day (yellow wave) and 100-day SMAs (brown), key dynamic support levels for ongoing reversals.
Meanwhile, UTXO discovered price distribution (URPD) information It shows Ether sits in a significant support zone between $1,980 and $2,178, with investors gaining 7.4 million ETH.
ETH URPD All Time High Dividend. Source: Glassnode
A re-exit from this range increases the chances of Ether price rising to the resistance of $2,400, to the next highest resistance at $2,800-$3,000, investors have gained approximately 14 million ETH.
Ether spot detector CVD shows a high buyer rate
Ether's 90-day Spot Cumulative Delta (CVD) shows that buy-orders (receipt buys) have once again dominated. CVD measures the difference between buying and selling over a three-month period.
As ETH/USD consolidated in the $1,800-$2,200 range, the scale remained in the neutral zone between mid-February and mid-March.
The CVD reversed positive on March 15 (green bars on the chart below) as the price broke above the $2,200 resistance and has been positive since then. This reflects the optimism among traders, as they actively position themselves for additional profits.
If the CVD remains green, it means buyers are not backing off, which could trigger another upward moving wave as seen in historical rallies. A similar event in 2024 was accompanied by an 85% price rally.
CVD that takes the place of ETH. Source: CryptoQuant
Meanwhile, Ether's buying volume jumped above $1 billion on Wednesday, as bulls used the drop below $2,300 to buy more, according to data from CryptoQuant.
“The move below $2,300 increased interest among traders today,” said CryptoQuant analyst Darkfost. he said. In a QuickTake note on Thursday, he added:
“This shows that market participants are still willing to bet on a more constructive short-term outlook for Ethereum.”
Buy ETH receive amount. Source: CryptoQuant
