Ethereum price is showing signs of breaking out of a multi-month downtrend, with traders setting their sights on a $3,000 target. Recent data indicates a 41% surge in Ethereum's total value locked (TVL), reaching $52.8 billion within 30 days, alongside a 22% increase in daily transactions to 1.34 million. Key technical indicators show that Ether's price has broken a descending trendline and is currently facing resistance levels between $2,100 and $2,800. Analysts highlight that overcoming these barriers could lead to further upward momentum, with some predicting a price range between $2,150 and $3,500. Onchain metrics suggest a recovery in network activity, although a recent spike in net outflows from Ether ETFs raises concerns about the sustainability of this trend. Despite decreasing transaction fees indicating low activity, the overall market sentiment remains cautiously optimistic as Ether aims for the psychological $3,000 milestone.

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