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Ethereum Breaks Key Resistance Amid Market Recovery
Ethereum (ETH) surged 7.5% in 24 hours, surpassing the $2,550 resistance level—a critical milestone not achieved in weeks. Analysts suggest a retest of range highs may be imminent following this breakout.
Key Developments
- Price Action: ETH rallied from $2,380** (support) to **$2,585, marking a two-week high.
- Range Dynamics: Since early May, ETH oscillated between $2,400–$2,800, briefly losing footing at $2,550 before reclaiming it.
- Market Sentiment: Bullish momentum fueled by Bitcoin’s rise to $109,600.
👉 Track Ethereum’s live price movements
Levels to Watch
Support & Resistance
- Critical Support: $2,520 (must hold to avoid retesting range lows).
Major Levels:
- Lower Bound: $2,310.
- Upper Bound: $2,735.
Analyst Perspectives
- Daan Crypto Trades: Warns of potential "liquidity grabs" if $2,520 fails.
- Merlijn The Trader: Highlights a 3-month ascending triangle with ETH targeting $2,700 next.
"A clean break above $2,700 could propel ETH toward $3,000, with further upside post-resistance."
Historical Patterns Suggest Major Breakout
Cyclical Analysis
- 2018–2020: Base formation → retest → liftoff (ATH: $4,878).
- 2024 Setup: Similar stages observed, starting from $1,500.
Kaleo’s Insight
- 2020 Parallel: ETH trailed BTC’s ATH by 60% but later surged 800%.
- Current Cycle: ETH retraced 68% while BTC hit new highs—hinting at a repeat performance.
"The bottom for ETH is in. Up only from here."
Weekly Performance
- Current Price: $2,568 (+6.1% weekly).
- Chart Outlook: Bullish MACD crossover, higher lows.
👉 Explore advanced ETH trading strategies
FAQ Section
Q1: What’s driving Ethereum’s price surge?
A1: Combined factors: Bitcoin’s rally, technical breakout, and bullish market sentiment.
Q2: How critical is the $2,520 level?
A2: It’s the pivot point—holding it confirms bullish momentum; losing it risks a drop to $2,310.
Q3: Could ETH reach $3,000 soon?
A3: Yes, if it decisively breaks $2,700, with historical patterns supporting further gains.
Q4: Is Ethereum’s current cycle similar to 2020?
A4: Structurally yes, but starting from a higher base ($1,500 vs. $100).
Featured Chart: ETH/USDT weekly performance via TradingView.