Following Wednesday’s U.S. Consumer Prince Index (CPI) reading, Ethereum (ETH) barely moved, trading almost flat $1,884, with an appreciation of 0.1 percent over the past 24 hours. That said, some analysts opine that the digital asset is in the process of an eye-tearing rally that could instantly propel it to $3,000 price zone.
ETH on the verge of a big breakout
In a Wednesday X post, seasoned crypto trader Michael van de Poppe remarked that right now is the “ideal moment” for traders to position for the ETH trade.
Poppe referred to ETH’s rally in 2023, which resulted in a 60 percent price spike, catapulting the digital asset from $1,550 in October to $2,300 in December. The trader added that ETH is likely to repeat the same movement in 2026.
Sharing the following ETH 3-day chart, Poppe said that he wouldn’t be surprised if ETH rallies to $3,000 in a matter of weeks. If his prediction comes true, then ETH could be hovering around $3,000 by January 2027.
Meanwhile, fellow crypto trader Daan Crypto Trades shared the following daily ETH/BTC trading chart. For the uninitiated, the ETH/BTC ratio is one of the most important trading pairs in the crypto market, since it helps investors gauge the overall market’s prevailing appetite for risk.
A rising ETH/BTC ratio shows that investors are choosing to hold ETH over BTC, signalling an affinity toward risky digital assets. On the contrary, a falling chart shows that investors prefer holding the largest cryptocurrency by market cap.
In the chart, Daan stated that ETH has finally broken through the prolonged downtrend against BTC. The trader added that if ETH overcomes the 0.03 level, then it could see a continuation of the bullish trend.
Ethereum liquidity shrinkage can help price
While the reaction following the latest CPI data was relatively quiet, analysts are predicting that ETH could soon reach $2,300. The next resistance to overcome would be around $3,000 price level, as various on-chain indicators point toward it.
Meanwhile, an increasing amount of ETH supply continues to exit the market. According to on-chain data on Monday, almost 34.3 percent of ETH’s active supply is now staked on the protocol.
