Major Ethereum Metric Just Hit A New All-Time High – Can Price Reclaim $3,000?
Ethereum’s derivatives market is showing signs of a decisive shift beneath the surface, and price action is about to return above the $3,000 mark. On-chain data suggests trader behavior on major exchanges is shifting
Ethereum Price Chart. Source: @TedPillows On X
Pillows noted that holding this support zone keeps the bullish structure intact. If buyers continue to defend the $2,700-$2,800 range, Ethereum could build enough momentum for a push to the $3,100 to $3,200 region. That zone also sits just above the psychologically important $3,000 level.
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The downside scenario is equally clear. A failure to hold the current support would expose Ethereum to a deeper pullback, with the chart pointing toward a potential retest of the $2,500 level.
Featured image from Pexels, chart from TradingView
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