Michaël van de Poppe: Ethereum price heading towards $3.000?

Analyst Michaël van de Poppe believes Ethereum could be on the verge of a significant upward price move. At the time of writing, the Ethereum price stands at $2.487,68, up 0.7% in the past 24 hours. According to Van de Poppe, Ethereum is holding an important support level, and a test of $2.520 could trigger a breakout toward $3.000.

Ethereum is available at OKX and Bybit.

In brief:

• The Ethereum price is around $2.487 and is recovering slightly with a 0.7% gain in 24 hours
• Van de Poppe sees support holding and expects a possible rapid rise
• According to him, a breakout above $2.520 could clear the way to $3.000

Support level holds on the chart

On the chart Van de Poppe shares, several price levels he is monitoring are visible. The price is currently trading above the $2.355 and $2.306 levels, with $2.238 acting as a deeper support level. As long as Ethereum remains above these zones, the analyst views the technical picture as positive.

Van de Poppe states that it would not surprise him if Ethereum delivers a strong upward move from the current level.

Breakout above $2.520 is the key

According to Van de Poppe, $2.520 is the crucial level to watch. If the price tests that area and then breaks to the upside, he considers the likelihood of Ethereum moving toward $3.000 to be realistic. He presents this as a possibility rather than a certainty.

Ethereum has had a turbulent period in recent weeks. For example, the founder of Bankless sold his Ethereum position, which caused quite a stir in the market at the time. Whether the current support truly marks the starting point of a recovery will depend on how the price responds to the resistance level around $2.520.