![](\"http:\/\/www.thebusinesschain.com\/wp-content\/uploads\/2025\/05\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDIvMDE5NTE4ZGItMzNkYy03M2Y0LWJkYzktNzdkNDg4MmRhZWQ0.jpg\")
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Key takeaways:<\/p>\n
Ether breaks multimonth downtrend as traders target $3,000 ETH price.<\/p>\n<\/li>\n
Ethereum TVL surges 41% to $52.8 billion in 30 days, with a 22% rise in daily transactions to 1.34 million, signaling strong network recovery.<\/p>\n<\/li>\n
Technicals show ETH price faces major resistance at $2,100-$2,800.<\/p>\n<\/li>\n<\/ul>\n
Ether is setting up for a recovery toward the $3,000 psychological level, backed by recovering network activity, increasing TVL, and strong technicals. <\/p>\n
Ether (ETH<\/a>) looks to end its downtrend that has been in play since mid-December after it turned away from its 10-month high of $4,100<\/a>.<\/p>\n Crypto technical analyst Mikybull Crypto shared<\/a> a chart showing the ETH price breaking above a six-month descending trendline, with $2,000 and $2,250 being key resistance levels to watch, saying:<\/p>\n “ETH breaking out.”<\/p><\/blockquote>\n Ether’s price broke above the downtrend line at $1,600 on April 22 when cooling macroeconomic tensions sparked a marketwide recovery<\/a>. <\/p>\n Related: <\/strong><\/em>Pectra features already in use: Ethereum EIP-7702 wallets roll out<\/strong><\/em><\/a><\/p>\n The 50-day simple moving average (SMA) at $1,775 is now acting as immediate support for Ether’s price. <\/p>\n The relative strength index has risen sharply, jumping from 56 to 66 over the last 24 hours, suggesting bullish momentum is picking up. <\/p>\n Key levels to watch on the upside are the 100-day SMA at $2,100 and the supplier congestion zone between $2,500 and $2,800, where the 200-day SMA lies. Overcoming these barriers will likely push ETH prices higher, with $3,000 representing the short-term target for the bulls.<\/p>\n Crypto analyst Crypto Claws said<\/a> the ETH\/USD pair was “primed for a bullish reversal,” setting the upside target between $2,500 and $3,500. <\/p>\n $ETHUSD<\/a> 1D chart looking primed for a massive bullish reversal! — Crypto Claws (@cryptoclaws_) May 7, 2025<\/a><\/p><\/blockquote>\n Meanwhile, Crypto Salamanca told<\/a> his X followers that with the latest Pectra upgrade-fueled momentum<\/a>, “ETH could target $2,150–$2,700 in the coming weeks.”<\/p>\n Ethereum remains the largest layer-1 blockchain based on the total value locked<\/a> (TVL) and ranks second in DEX volumes. <\/p>\n\n
Potential short-term dip to $1450, but that’s just fuel for the next leg up. Targets: $2500, then $3500!
Get ready for a significant price surge! #Ethereum<\/a> #Bullrun2025<\/a> #Crypto<\/a> pic.twitter.com\/MXLBOIRmYF<\/a><\/p>\nEthereum onchain metrics show strength<\/h2>\n