Ethereum's price is showing bullish signals with potential to reach $3,000, described by analysts as a 'powder keg' ready for a breakout.
Technical analysis points to a consolidation range for Ethereum between $2,190 and $2,750, with a bullish target of $3,300 in the near term.
Fundamental factors like low exchange balances, increasing stablecoin activity, and rising Ethereum Spot ETF inflows support the potential parabolic move for Ethereum.
Analysts highlight that if Ethereum surpasses the $2,600 resistance level, the combination of supply scarcity and increasing demand could lead to a rapid breakout.