Ethereum is in a pivotal moment after pushing prices above several major resistance levels following last week’s explosive rally. After surges past $2,700, ETH has been pulled back and is now consolidated above $2,400. This zone becomes an important battlefield between bulls trying to check for breakouts, with bears looking to focus on deeper corrections.
To maintain its current bullish momentum, Ethereum will need to take over $2,400 and take the $2,800 level. This is the area that shows the upper limit of the current integration range. A confirmed breakout of over $2,800 could spark a wider rally and mark the start of the much-anticipated alto season.
Adding bullish strength, new data from Cryptoquant reveals that smart money is accumulating ETH quickly. This massive accumulation suggests increased confidence among institutional players and long-term investors.
Now there is all eyes on how Ethereum responds at these levels. A successful support and breakout that outweighs resistance could set the stage for a strong continuity. But failing to go above $2,400 could lead to more negative side pressure and slow further bullish progress.
Smart Money supports Ethereum as the Bulls defend key support
Ethereum shows a new bullish strength as market sentiment changes optimistically across the crypto landscape. After surges more than 50% in recent weeks, ETH is above the $2,400 level, a key support zone that traders and analysts have looked at equally closely. To solidify the bullish stage and confirm the start of a sustainable rally, the Bulls must firmly push Ethereum up above $2,800. This could cause fresh momentum and unlock passes heading into the $3,000-$3,200 region.
Despite the positive signs, the risk remains. Ethereum is down approximately 36%, close to $4,100 from its December 2024 high. This gap highlights the work the Bulls still have to do to completely reverse the wider decline. Recent pauses below resistance are natural cooling stages, but if the ETH cannot retain the above support, the bear pressure can quickly return.
Still, institutional confidence appears to be growing. According to data shared by top analyst Ali Martinez, Smart Money has accumulated over 450,000 ETH in the past month. This surge in whale accumulation suggests a long-term bullish outlook as large holders buy at the moments they normally find themselves in the market consolidation moment for future benefits.
If the Bulls manage to defend $2,400 and break through the $2,800 ceiling, Ethereum could be the catalyst for the wider Altcoin Rally.
Price Action: Key Levels of Focus
Ethereum (ETH) is currently trading around $2,493 after failing to maintain momentum above $2,700. The four-hour chart allows you to observe a clear break from the sharp upward trend that began in early May. After an explosive surge below $2,000, ETH has been actively repeated, but now enters a correction phase marked by a lower high and an increase in sales pressure.
Prices are close to the region between $2,480 and $2,460 and serve as short-term support. If that zone breaks, the next confluence of interest will be near $2,300. The volume has decreased slightly during this retracement, suggesting that sellers are cautious rather than dominant. However, if you can’t hold more than $2,400, your emotions can change and invite deeper pullbacks.
The 200-period EMA and SMA on the four-hour chart are far below current prices at $2,084 and $1,936 respectively, indicating that ETH is still in bullish territory in terms of trends. These moving averages can serve as dynamic support if the correction is enhanced.
Overall, Ethereum is on a strong upward trend, but the current pullback suggests that the integration phase is ongoing. The Bulls are defending key levels, regaining their upside-down momentum, past $2,700 and again above $2,700, aiming for the $2,800-$3,000 range.
Dall-E special images, TradingView chart
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