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Ethereum pushed above the $2,820 mark yesterday, strengthening the bullish case for a breakout after weeks of consolidation. The move has created renewed optimism among traders who expect ETH to rally beyond its current range and begin a new upward leg. Despite lingering global tensions, markets are responding positively to growing speculation that a trade deal between the US and China may soon be finalized, offering a temporary boost to risk assets across the board.
Ethereum’s recent strength comes at a critical moment, as price approaches the upper boundary of its current ascending channel. Top analyst M-log1 shared a technical analysis highlighting this structure, stating that ETH needs to break out of this current channel. Until then, price action may remain contained within the structure, with limited upside unless a decisive breakout occurs.
As Ethereum pushes toward resistance, all eyes are on volume and confirmation signals that could mark the start of a broader trend. For bulls, breaking above the ascending channel could signal the beginning of a strong move toward $3,000 and beyond. Until then, Ethereum remains at a key inflection point in its cycle.
Ethereum Holds The Key To Altseason Ts Bulls Eye Breakout
Ethereum is now at the center of the market’s attention, as its next move could determine whether a true altseason begins. While Bitcoin continues to lead, Ethereum’s ability to reclaim higher price levels—particularly above the $2,800 mark—will be critical in confirming the start of a broader altcoin rally. So far, positive sentiment and rising price action suggest momentum is building, with ETH pushing into resistance and forming a constructive setup.
Bulls have regained control in recent sessions, but the challenge now lies in escaping the current structure. M-log1 highlighted that Ethereum remains trapped in an ascending channel, a pattern that often leads to slow grinding moves until a breakout or breakdown occurs. “If we want anything significant to happen,” he noted, “then ETH needs to leave this ascending channel.” Failing to do so increases the probability of a revisit to the lower end of the range, though M-log1 clarified that this isn’t a certainty—just a probability to keep in mind.
On a positive note, Ethereum’s moving averages continue to trend upward and support price from below, providing a favorable technical backdrop. As long as these levels hold and bulls remain active, the breakout scenario remains the dominant outlook.
If ETH can decisively flip $2,800 into support and break above the channel structure, it could unleash a wave of capital rotation into altcoins. Until then, Ethereum holds the spotlight—and its next move will likely shape the direction of the entire market heading into summer.
Ethereum Breaks Above Resistance But Faces Retest At Key Level
Ethereum is currently trading at $2,771 on the daily chart after briefly breaking above the critical $2,800 resistance zone. This level has capped price action multiple times since early May, making this breakout attempt a significant development. However, today’s rejection from a high of $2,834 suggests that ETH is not yet ready to confirm a clean breakout and may be entering a short-term retest phase.
The $2,750–$2,800 zone, now acting as immediate resistance, aligns closely with the 200-day simple moving average (SMA) at $2,654.52 — a historically important level that often dictates medium-term trend direction. ETH’s recent surge above all major moving averages, including the 50-day ($2,333.32) and 100-day ($2,085.42) SMAs, reflects growing bullish momentum and a strong trend structure.
If Ethereum holds above the 200-day SMA on a retest and reclaims $2,800 with follow-through, the path toward $3,000 becomes more realistic. On the other hand, failure to hold this area could result in a slide back toward the $2,600–$2,650 support zone.
Volume has picked up, indicating interest, but confirmation will come from sustained price above resistance. For now, ETH remains in a promising position — but the next few candles will be key.
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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