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Ethereum is back above the $2,500 level after a massive surge that flipped market sentiment nearly overnight. Following months of intense selling pressure that began in late December 2024, ETH spent most of the first quarter struggling to gain traction. However, last week’s powerful rally—an 80% gain in less than a month—has shifted the tone across the market, reigniting optimism and setting the stage for what could be the beginning of a broader altcoin recovery.
Top analyst Jelle shared a technical analysis noting that while Ethereum’s breakout is impressive, the asset still has “a lot of work to do.” ETH is now testing a key supply zone that previously marked significant resistance. Whether bulls can push through this area or face a temporary rejection remains to be seen. Still, the magnitude and speed of this recovery suggest that Ethereum may have completed a capitulation bottom and is building toward a more sustainable uptrend.
For now, reclaiming $2,500 is a significant psychological and technical milestone. With momentum turning and broader market strength building, Ethereum’s price action in the coming days could help define the trajectory for the entire altcoin sector in Q2.
Ethereum Tests Key Resistance After Explosive Weekly Surge
Ethereum has surged over 44% in less than a week, reclaiming major resistance levels with strength and shifting sentiment sharply from bearish to bullish. After months of underperformance, ETH is now leading the charge in what many analysts believe could be the beginning of a long-awaited altseason. The broader market is showing signs of renewed momentum, but Ethereum’s breakout is particularly significant as it often signals capital rotation into altcoins.
ETH’s rally has taken it from sub-$1,800 levels to just above $2,500, breaking through key resistance areas that had held since January. Now, the price is testing a crucial supply zone between $2,600 and $2,800—a region that previously acted as a distribution top and major rejection point. A successful break above this level could open the door for a move toward $3,000 and beyond.
Jelle highlighted the scale of Ethereum’s comeback, noting that this “massive bounce” came after the market had largely declared ETH dead. Prices are now firmly back above critical support, and the reclaim of $2,500 is a major technical milestone. Still, as Jelle points out, there’s a lot of work ahead before a full recovery is confirmed.
While short-term momentum is clearly bullish, Ethereum must consolidate and build structure above this resistance to establish a sustainable uptrend. If that happens, the narrative for altseason becomes significantly stronger, especially after years of drawdowns across the sector. The coming days will be key as Ethereum tests the upper end of this resistance range and sets the tone for altcoins heading into the summer.
ETH Tests $2,600 Resistance As Momentum Builds
Ethereum is trading at $2,570 after an explosive rally that pushed the price from under $1,800 to a new local high at $2,625 in just a few sessions. The chart shows a clear vertical breakout, driven by surging volume and reclaim of major moving averages. ETH has now decisively broken above its 200-day EMA (currently near $2,436) and is testing the 200-day SMA around $2,701—a zone that represents a significant area of supply.
The steep angle of ascent suggests strong bullish momentum, but the price is approaching a key resistance confluence. Historically, the $2,600–$2,800 range has acted as both support and resistance, meaning bulls need to consolidate above $2,500 to sustain the uptrend.
This move also follows months of consolidation and a long period of underperformance. After a 66% decline from its December highs, Ethereum’s current rally signals a potential trend reversal. If bulls maintain this pressure and break above the 200 SMA, it could trigger a rapid continuation to $3,000 and beyond.
However, volume should remain elevated, and volatility is expected as sellers may step in at these levels. A short-term pullback wouldn’t invalidate the trend, but failure to hold above $2,500 could stall momentum.
Featured image from Dall-E, chart from TradingView
Sebastian’s journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.
To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian’s goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.
To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.
Sebastian’s passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K reports, or engaging in thought-provoking discussions about the future of finance.
Sebastian’s journey as a crypto pioneer has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.
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