For the first time since its record high in August 2025, Ethereum has achieved a milestone it has struggled to reach for over a year.
ETH has recorded a higher high and broken past a resistance ceiling that previously halted multiple upward runs. Naturally, investors are asking what this indicates for the asset’s valuation and whether it can climb past $3,000 during this cycle.
Ethereum Is Finally Back in Its Long-Term Range
According to crypto analyst Benjamin Cowen, Ethereum has re-entered its long-term logarithmic regression band—a metric he relies on to evaluate ETH’s position against its historical growth trajectory.
“At least this cycle I don’t have to spend the whole time calling for ETH to go home, considering it’s already there.”
Cowen noted that he prefers using dollar-cost averaging through the latter half of the US midterm year, while keeping cash ready for a potential market downturn in the fourth quarter.
Simultaneously, corporate treasuries are actively expanding their ETH holdings.
The Weekly Chart Has Changed
Following its peak of approximately $4,957 in August 2025, ETH experienced a sequence of declining rallies characterized by lower highs.
That trend is now officially broken. This week saw ETH touch $2,807, with the previous barrier near $2,438 successfully converting into a support floor. Furthermore, the weekly relative strength index (RSI) has risen to 64. If the token clears $2,920, the probability of an advance toward $3,400 increases significantly.
But the Daily Chart Is Flashing a Warning
Despite these gains, momentum remains a concern. While ETH continues to print higher highs, the daily RSI is displaying lower highs—a pattern known to traders as bearish divergence, which often hints at exhaustion in a rally.
Additionally, trading volume is on a downward trend.
The crucial threshold to watch is roughly $2,440. Maintaining this level preserves the bullish setup, whereas a breakdown could trigger a drop toward the $1,950–$2,000 region.