Ethereum continues to consolidate within range, with $2,800 acting as the main resistance level eyed for the next bullish breakout.
Analysts point to a potential rally to $4,000 once Ethereum cleanly reclaims and holds above the key $2,800 resistance zone.
Traders remain focused on Ethereum’s price structure as a decisive close above $2,800 could revive momentum and extend the current trend.
Ethereum is navigating a crucial range, with traders closely monitoring key technical zones. The asset is showing potential for upward movement, contingent on reclaiming strategic resistance levels and maintaining key structural formations.
Price Range Holding, $2,800 Reclaim Remains Critical
TedPillows, a market observer, noted that Ethereum ($ETH) continues to trade within a defined range. He highlighted that a reclaim back to $2,800 could open the door to an advance to $4,000. The $4,000 level has become a critical level for bulls wanting to regain control and spark a more significant move higher. Even though ETH is range-bound within its established horizontal trading area, pressure is building near this critical resistance level.
https://twitter.com/TedPillows/status/1931297585781743654
Traders are now focusing on whether the cryptocurrency can close above this barrier. A confirmed breakout would suggest growing buyer confidence and open the path toward revisiting earlier highs.
Bull Flag Formation Adds to Technical Optimism
Alpha Crypto Signal also pointed out that Ethereum has developed a bull flag on the daily timeframe. This continuation pattern typically suggests potential for upward expansion, provided the structure remains intact. However, recent price action saw ETH struggling to flip horizontal resistance, resulting in a pullback below the mid-level of the flag channel.
Source:Alpha Crypto Signal
At present, Ethereum is attempting to reclaim that lost mid-level. A successful retest and hold above this zone would indicate renewed bullish momentum. Should the price stabilize at this level, Alpha Crypto Signal suggests the next target would be the upper boundary of the flag, further reinforcing the case for a possible breakout.
On-Chain Activity Signals Network Revival
Another known analyst, Mister Crypto, reported a 17% rise in active Ethereum addresses over the past week. This uptick reflects growing participation and could correlate with renewed investor interest. Increased on-chain activity often aligns with heightened volatility and can act as a precursor to stronger market moves.
https://twitter.com/misterrcrypto/status/1931361001347362869
The surge in address activity adds a layer of fundamental strength to Ethereum’s current technical setup. While price alone dictates chart analysis, expanding user engagement could support further traction if key resistance levels are flipped into support.
Ethereum remains at a crossroads, with upcoming sessions likely to determine the short-term direction. Traders and analysts continue to monitor both chart patterns and on-chain signals for confirmation.
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