Ethereum is once again making waves, pushing past the $2,700 level and signaling a renewed surge in bullish momentum. After days of sideways consolidation, ETH finally broke through key resistance at $2,620, blasting through the $2,700 zone with confidence.
This breakout followed a decisive technical shift — the breach of a long-standing bearish trendline near $2,450 on the ETH/USD hourly chart. Once that resistance gave way, bulls seized control, quickly driving ETH to a local high of $2,736.
Since then, Ethereum has seen a minor pullback, now hovering around $2,640, yet still holding firm above the 100-hour simple moving average (SMA) — a positive short-term indicator.
Key Levels to Watch
• Immediate Resistance: $2,720
If ETH turns this into support, it could unlock upside targets at $2,750, $2,840, and potentially $2,950 in the sessions ahead.
• Critical Support: $2,600 and $2,575
Failure to clear $2,720 convincingly could open the door for a short-term dip toward the 50% Fibonacci retracement level of the recent $2,416 → $2,736 rally. In a deeper correction, $2,500 and even $2,420 might come into play.
The Bottom Line
As long as Ethereum remains above $2,575, the broader trend remains bullish. The next 24–48 hours could be critical in determining whether ETH is gearing up for a sustained breakout or prepping for one more retest of support before its next big move.
So—is Ethereum ready to break free, or is a reset on the horizon? Traders and investors alike should keep a close eye on the charts.
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