Ethereum Gears Up For Breakout Above $2,800 – Bullish Momentum Builds

Ethereum has recovered significantly, rising 15% after finding support near $2,100 following a period of bearish momentum. This rebound was spurred by easing geopolitical tensions after a ceasefire agreement in the Middle East. The price surge has brought Ethereum back to a critical technical level where bulls aim to regain control. Analysts suggest Ethereum is poised for a potential breakout, possibly challenging previous resistance. On-chain activity is increasing, indicating renewed market confidence and the potential for Ethereum to lead an altcoin rally. Ethereum faces resistance around $2,800, and a break above this level could significantly impact its trajectory. The price is currently consolidating, with bulls attempting to establish support above $2,400. Success in breaking above $2,500 could lead to retesting higher levels around $2,700-$2,800. Failure to surpass this resistance might result in a pullback towards $2,300 as the market remains uncertain.