Ethereum has regained strong bullish momentum over the past few days, rising more than 23% since June 22nd, bringing back a key level of $2,600. After weeks of uncertainty and sideways, ETH has shown signs of strength, with the Bulls currently focusing on a push into the $2,700 resistance zone. A successful rebirth of this level will allow you to open the door for a wider gathering, potentially rekindling hopes for the much-anticipated alto season.
Volatility remains in the broader market, but the recovery of Ethereum was particularly pronounced as macroeconomic sentiment increases preferences and increased risks in both stocks and crypto. The surge in prices has attracted attention on ETH's long-term outlook, with top analyst Ted Pillow saying “ETH looks great and this cycle is over $10,000.” This bold forecast reflects the growing confidence among market participants that Ethereum still holds a significant rise potential, especially as network foundations are strengthened and institutional benefits grow.
As the $2,700 level acts as the next important resistance, all eyes are in whether Ethereum can maintain its momentum and increase the next leg stage. The next few days will be essential to see if the rally has sustainability or will remain short-lived.
Ethereum faces critical tests when Altcoin Market monitors closely
After a week of volatility, Ethereum surged 9% yesterday, approaching the top of its long-standing range, indicating a potential for a major breakout. With a trading between $2,200 and $2,800 since early May, ETH has returned to the top of this integrated zone. Market participants believe this could be a turning point not only for Ethereum, but for the entire Altcoin market.
Ethereum is the backbone of the Altcoin ecosystem, and its price action has historically determined the momentum of the wider crypto space. A critical move above $2,800 could cause a wave of breakouts across major altcoins, many of which remained restrained at major resistance levels. While short-term volatility remains a concern, analysts argue that Ethereum shows strong signs of resilience and accumulation.
Ted Pillow shared his technical perspective and encouraged traders to focus on the big picture. “Don't scare you by short-term volatility,” he says, Ethereum will be good. This cycle is $10,000. His views reflect the growing confidence among experienced investors who view Ethereum's current structure as the launchpad for the next expansion phase.
The days ahead are crucial as Ethereum is at a critical technological fork and altcoins are waiting to be confirmed. A breakout over $2,800 could test for enhanced bullish sentiment and potentially trigger the much-anticipated Altseseason.
ETH tests 200 days of MA after breakout
Ethereum shows updated strength after regaining its $2,600 level and closing it above the main moving average of its daily charts. As can be seen in the image, ETH surged through the 100- and 200-day moving averages, which served as a dynamic resistance of nearly $2,516. This marks an important technical milestone and shows that bullish momentum could return.
Breakout candles are backed by an increased volume. This is a positive indication that movements are supported by actual market participation. If your ETH can hold above the 200-day MA, the next important level you'll watch is $2,700. A critical closing above $2,700 could open the door to make more profits and test the resistance zone between $2,900 and $3,000.
Support remains close to the $2,500 level, with 50 and 100 days of MAS converging and a strong confluence zone in the event of a pullback. If the Bulls can maintain momentum and hold above the moving average cluster, the probability of a larger trend reversal increases.
The current setup for Ethereum appears to be constructive, with market participants closely watching the continuation, especially as macro sentiment has improved and Altcoin's strength has returned.
Dall-E special images, TradingView chart
