Ethereum (ETH) bulls are setting their sights on $3,000 for the second largest cryptocurrency by market capitalization as positive momentum continues to build.
According to analyst Jacob Canfield, Ethereum could rally over 50% to hit $3,000 within the next few weeks if bulls can firmly break through resistance at $2,100.
Keypoints
- Top trader Jacob Canfield believes ETH could reach $3,000 within the next few weeks, but it needs to break past resistance at $2,100 first. ETH hit $2,132 recently, its highest since the May 2022 crash.
- ETH is up over 33% in the past month on Ethereum ETF prospects and overall crypto market optimism. Over $80 million in shorts were liquidated in the past day.
- The ETH rally has boosted related crypto sectors like DeFi, with total DeFi market cap topping $60 billion again. Ethereum L2 TVL also hit an all-time high above $13.6 billion.
- On-chain analysis shows ETH has little major resistance…
