Technical Indicators Signal Potential Rally for Ether Toward $3,000

Ether (ETH) is showing signs of a bullish recovery as it consolidates following a rebound from February lows below $1,800. Current technical indicators suggest the asset is preparing for a potential move toward the $3,000 mark as the new month begins. On the daily chart, ETH has formed a bull flag pattern since early April. A break above the $2,350 upper trend line could propel the price toward $3,000, representing a gain of approximately 33.5% from current levels. Additionally, an ascending triangle on the eight-hour chart indicates a potential target of $3,305 if the $2,400 resistance is cleared. Support remains robust between $1,980 and $2,178, where UTXO realized price distribution data shows 7.4 million ETH were acquired. This zone aligns with the 50-day and 100-day simple moving averages, providing a strong floor for the current uptrend. Resistance is noted at $2,400, with a larger concentration of investor holdings between $2,800 and $3,000. On-chain momentum is further supported by the 90-day spot taker cumulative volume delta (CVD), which flipped positive on March 15. Recent activity shows taker buy volume exceeding $1 billion on a single Wednesday, suggesting aggressive accumulation by traders during recent dips below $2,300.