Ethereum's Path Ahead: Consolidation or New Highs?

Ethereum (ETH) recently broke out of its prolonged consolidation phase, currently trading above $3,100, reflecting significant bullish momentum. After reaching its recent peak, ETH appears to be stabilizing near the $3,050 support level, hinting at a possible continuation of its upward trend.

Technical indicators suggest that Ethereum is forming a potential accumulation phase around its current levels. A break above $3,150 could open the door for a retest of higher resistance levels, possibly targeting $3,300 or beyond. Conversely, failure to maintain support near $3,050 might lead to a short-term pullback, bringing prices closer to $2,900.

Traders are advised to monitor key levels and volume activity closely, as the next breakout could define Ethereum’s trajectory in the coming weeks.