Ethereum: A 57% Rise Last Quarter. Can It Reach $3,000 Again?
Ethereum just posted its strongest quarter among major cryptocurrencies, but a stubborn ceiling keeps blocking its path to a psychologically critical price target. Two specific triggers could either open the door or delay the breakout until 2027.
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Ethereum (CRYPTO:ETH) saw an impressive 57% gain over the last 90 days, making it the best-performing major cryptocurrency. This surge has many traders wondering: can Ethereum reach $3,000 once more? This price point was last seen in January 2026.
Despite this recent rally, Ethereum is trading around $2,706 as of October 1, about 45% below its all-time high of $4,946 reached in August 2025. To hit $3,000 again, it needs to climb approximately 11%. Unfortunately, those who bought at the peak are still significantly underwater.
Ethereum Outpaced Solana, XRP and Bitcoin Over 90 Days
In the past three months, Ethereum outperformed other top cryptocurrencies—Solana (CRYPTO:SOL) gained 48%, XRP (CRYPTO:XRP) increased by 37%, and Bitcoin (CRYPTO:BTC) rose by 36%. This strong performance suggests traders are favoring Ethereum, which could provide solid support for its push toward $3,000.
The rally began from a low of about $1,693 on July 3. A significant boost occurred on August 19, when Ethereum jumped from around $1,917 to $2,252 in one day, a striking 17% increase with the quarter’s highest trading volume.
However, the momentum has gradually slowed. Over the past month, Ethereum has climbed only about 8%, after a robust 45% gain over the past two months. It remains down about 10% for the year 2026 and has seen a decline of around 36% over the last year.
Ethereum Needs to Clear $2,807 Before It Can Reach $3,000
Ethereum hit a peak of about $2,807 on September 21, shortly after breaking through a key level at $2,672, which traders viewed as a gateway to $3,000. Since then, sellers have pushed the price back whenever it has approached that high, leaving Ethereum to close near $2,677 on September 29.
This September high now serves as resistance, sitting about 4% above the current price. For a real shot at hitting $3,000, Ethereum would need to close above $2,807, bringing it within 7% of that target. On the downside, the low of about $2,564 recorded on September 20 marks a crucial support level, roughly 5% below where Ethereum stands now.
Why Ethereum Stalled at $3,000 in January
At the start of 2026, Ethereum traded around $3,000 and even reached about $3,067 on January 21 before facing heavy selling pressure. It closed at around $3,006 on January 28 but soon dropped to about $2,818, leaving many buyers from that period in a challenging position.
If Ethereum approaches $3,000 again, these previous holders may be inclined to sell, creating additional resistance at this psychological price point. Traders typically set sell orders at round numbers like $3,000, which further compounds the selling pressure.
Moreover, with around 122 million ETH in circulation, reaching $3,000 would raise Ethereum’s market cap from about $330 billion to $366 billion. This means buyers would need to inject around $36 billion to achieve this target—significantly less than what would be required to bring Ethereum to $5,000.
Ethereum’s Glamsterdam Upgrade Starts Testing October 6
Ethereum developers are currently working on an important upgrade called Glamsterdam. Scheduled for testing on the Sepolia test network starting October 6, this update comes after some delays in September. The Sepolia network allows developers to test changes using coins that do not hold market value.
A successful test could boost market sentiment, while an announcement for the main Ethereum network could be even more influential on the price.
Can Ethereum Reach $3,000 by the End of 2026?
Ethereum has a reasonable chance of hitting the $3,000 mark before the end of 2026, but staying above that level may prove challenging. While it only needs an 11% gain to get there, selling pressure from those who previously halted its ascent in January could resurface.
So, can Ethereum reach $3,000? A daily close above $2,807, combined with a positive Glamsterdam test on October 6, could pave the way. Conversely, if Ethereum closes below $2,564, the strong momentum seen this quarter might start to fade, and the journey to $3,000—and even a push towards $4,000—could be pushed back to 2027.
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Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing
