Ethereum Price Outlook: Analyst Predicts ETH Could Hit $3,000 This Month

Ethereum price surged above $2,400 on Friday after strong buying lifted ETH from its recent consolidation range. 

Ethereum just broke $2,400 for the first time in over 3 months. ETH is now up +28% in the last 4 days.

Ether rose in the past four hours by 5% to trade near $2,410. The token also reached an intraday high of $2,446. Bitcoin price stood at $74,700, continuing to gain momentum after surging past $78,000 as demand increased on cryptocurrencies.

Analyst Predicts Ethereum Price Rallying Toward the $3000 Level

Cryptocurrency analyst Ted Pillows indicated that a weekly close above $2,450 would reinforce the upward trend in Ethereum. A breakout of this kind would provide a route to $3,000.

$ETH is now approaching its $2,450 resistance zone.

A weekly close above this zone could pump Ethereum to $3,000. pic.twitter.com/6ldlkaDJtW

— Ted (@TedPillows) August 21, 2026

The analysis identified $1,965 as Ethereum’s first major support level. This area could provide stability if the cryptocurrency faces renewed selling pressure.

Nevertheless, Ethereum price needs to surmount some moving averages located within the range of resistance. Inability to fracture higher may result in consolidation or a new test of support.

An affirmed weekly close above the level of $2,450 would endorse the positive perspective. At that point, Ethereum still faces a significant obstacle in the resistance to recovery.

The Relative Strength Index was 93.56 in the four-hour period. This is a reading that puts Ethereum deep within overbought.

The Moving Average Convergence Divergence indicator was strongly bullish. The MACD line was at 124.59, and this is greater than the signal line, which is at 100. Its histogram was positive at 24.59, indicating that it was still gaining momentum.

Crypto Market Surges as BTC Rallies Above $78,000

The crypto market climbed 6.82% in 24 hours, reaching $2.59 trillion. BTC price has increased by almost 20% weekly, and Ethereum increased by more than 28% and XRP by nearly 30%. The US Treasury decision to increase debt buyback operations was embraced by traders to facilitate risk appetite. 

Technical momentum aims at the $80,000 target of Bitcoin, the $3,000 target of Ethereum and the $1.50 target of XRP. Nevertheless, the failure of Bitcoin to keep the above volatility indicates that despite the breakout, volatility is still high.

Bitcoin and Ethereum ETFs Attract $827 Million in Inflows

US spot Bitcoin ETFs attracted $606 million in net inflows on August 20. This was a fourth consecutive positive flows session. Spot Ethereum ETFs also received a capital of 221 million, and their inflow streak lasted four days. 

Spot Bitcoin ETFs Record $606 Million in Net Inflows on August 20, Extending Four-Day Streak

On August 20 (ET), spot Bitcoin ETFs recorded total net inflows of $606 million, marking four consecutive days of net inflows. Spot Ethereum ETFs recorded total net inflows of $221… pic.twitter.com/NHf3VHHTVN

— Wu Blockchain (@WuBlockchain) August 21, 2026

The recent surge is backed by sustained institutional demand and has enhanced the mood in the digital asset market. Investors will observe whether ETF purchases will persist amidst cryptocurrencies challenging key resistance zones after the dramatic gains experienced throughout the week.