Ethereum Fakes Out Bears – Altcoin Rally Depends On Key Level Breakout

Ethereum has reclaimed the critical $2,444 resistance level after a sharp recovery from its breakdown below $2,200, reviving bullish sentiment and sparking hopes for an altseason. The swift rebound caught traders off guard, suggesting the recent drop was a fakeout. Top analyst M-log1 believes Ethereum's price action has shaken out weak hands and set the stage for a bullish continuation. If momentum holds, ETH could attempt a move towards the higher range around $2,600-$2,800, a zone that has consistently acted as a battleground in previous cycles. Ethereum's performance is critical for broader market direction, and a confirmed breakout could trigger renewed confidence across the altcoin market. The macroeconomic backdrop remains fragile, but focus is shifting towards Ethereum's performance as the likely spark for the long-awaited altseason. A sustained breakout from current levels could trigger renewed risk appetite across the altcoin market, creating the perfect setup for a rotation. Ethereum is now in a critical position, and a breakout scenario is back on the table if bulls can sustain momentum. The trend is shifting in the bulls' favor, but Ethereum must hold current levels and push higher to avoid another retracement into bearish territory.