Yesterday, Ethereum pushed over $2,820, bolstering bullish lawsuits for breakouts after weeks of consolidation. The move has created a new optimism among traders who hope that ETH will rally beyond its current range and launch a new upward leg. Despite the prolonged global tensions, the market is actively responding to growing speculation that trade contracts between the US and China could soon be finalised, temporarily boosting the risk of full asset.
Ethereum’s recent strength comes at key moments as prices approach the current upward channel cap. Top analyst M-Log1 shared a technical analysis highlighting this structure, saying that ETH needs to break out of this current channel. Until then, price actions remain within the structure and are limited unless there is a critical breakout.
As Ethereum pushes towards resistance, all eyes are in volumes and confirmation signals that could indicate the beginning of a wider trend. For the Bulls, if they surpass the rising channel, they could mark the beginning of a strong move towards more than $3,000. Until then, Ethereum remained at a critical inflection point in the cycle.
Ethereum holds the key to the Altseason TS Bulls Eye Breakout
Ethereum is currently attracting market attention. The next move can be determined if the true alto season begins. Bitcoin continues to lead, but higher price levels (particularly the ability to regain higher price levels above $2,800) are important in confirming the launch of the wider Altcoin Rally. So far, positive sentiment and price rise suggests momentum is being built, and ETH has pushed into resistance and formed a constructive set-up.
The Bulls have regained control in a recent session, but the current challenge is to escape the current structure. M-Log1 emphasized that Ethereum remains trapped in the rising channel. This is a pattern where grinding is often slower until a breakout or failure occurs. “If we want to do something important,” he pointed out, “Then ETH needs to leave this rising channel.” M-Log1 revealed that this is not certainty, but increases the probability of revisiting at the lower end of the range.
On a positive note, Ethereum’s moving average continues to rise, supporting prices from the bottom, providing a favorable technical background. As long as these levels are retained and the bull remains active, breakout scenarios remain dominant.
If ETH can repeatedly support $2,800 and outperform the channel structure, it can unleash waves of capital rotation into Altcoins. Until then, Ethereum has held the spotlight. And the next move could shape the overall market direction towards summer.
Ethereum breaks beyond resistance, but faces at key level
Ethereum is currently trading at $2,771 on the daily charts after temporarily breaking the $2,800 resistance zone. At this level, this breakout attempt has become a significant development as price action has been restricted multiple times since early May. However, today’s rejection from the $2,834 high suggests that ETH is not yet ready to confirm a clean breakout and could enter the short-term retest phase.
The $2,750-$2,800 zone, currently serving as an immediate resistance, is closely matched with the 200-day simple moving average (SMA) at $2,654.52. The recent surge in ETH reflects bullish momentum and strong trend structures above key moving averages, including 50-day ($2,333.32) and 100-day ($2,085.42) SMA.
Once Ethereum retains its 200-day SMA in retests and recovers $2,800 in follow-through, the path to $3,000 becomes more realistic. On the other hand, if you can’t keep this area, the slide could potentially return to the support zone between $2,600 and $2,650.
Volume has recovered and is showing interest, but confirmation comes from a sustained price beyond resistance. For now, ETH is in a promising position, but the next few candles are important.
Dall-E special images, TradingView chart
