Ethereum is currently trading at $2,556 with a bullish flag forming and $2,700 as a key resistance level.
Analysts predict Ethereum could reach $3,030–$4,035 if it breaks the 200-day moving average, based on increasing network activity.
Ethereum is showing signs of fresh momentum with the potential for a major price rally, according to analysts such as Jonathan Carter and Captain Faibik.
Ethereum's network activity has surged with the Total Value Locked (TVL) rising 44% to $65.3 billion, and daily transactions increasing by 37%.