Ethereum (ETH) moved back above $2,500, putting a $2,550 weekly close at the center of an analyst’s case for a possible advance toward $3,000.
Key Points:
- Ether reclaimed $2,500, while analyst Ted Pillows says a weekly close above $2,550 could strengthen the case for a move toward $3,000.
- Derivatives volume rose 20% to $40.87 billion, while open interest increased 1.35% to $33.72 billion.
- Technical resistance remains near $2,550 and $2,800, while support sits around $2,185 if the breakout attempt fails.
Ethereum Price Levels
Ethereum climbed above $2,480 on Wednesday as the broader crypto market advanced alongside Bitcoin (BTC), then reclaimed $2,500 as short-term support. The move brought Ether back toward the $2,550 resistance area that has capped recent attempts to extend the recovery.
Analyst Ted Pillows said on Sep. 9 that one strong weekly close above $2,550 could push Ethereum toward $3,000. He wrote, “One strong weekly close above this could push Ethereum to $3,000.”
His weekly chart placed Ether near $2,519 and showed the token back above the 50-week exponential moving average, near $2,383. The 100-week simple moving average, around $2,512, still crosses the current price area and could add resistance.
Pillows identified roughly $2,800 as the next major hurdle after $2,550. A failed breakout could leave support near $2,185 exposed.
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Ted Pillows Outlook
Derivatives data also showed stronger participation. Coinglass reported Ether trading volume up 20% to $40.87 billion, while open interest rose 1.35% to $33.72 billion, suggesting traders added positions as the price recovered.
Options activity increased more moderately, with volume rising 3.97% to $814.91 million and options open interest gaining 0.70% to $6.83 billion.
The figures point to broader market participation, although the relatively small rise in open interest does not by itself confirm a sustained bullish trend.
Potential catalysts extend beyond the chart. Progress around the CLARITY Act, a dovish Federal Reserve signal and further Bitcoin gains could improve demand for risk assets, while the RSI at 52.45 and a bearish MACD signal show near-term momentum remains mixed.
In recent weeks, Ethereum has recovered enough to reclaim the 50-week exponential moving average and challenge the 100-week average near $2,512. That leaves $2,550 as the immediate confirmation level, with $2,800 and then $3,000 relevant only if buyers sustain the breakout.
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