โก ETH Breaks \$2,700: Is the Bullish Momentum Back?
๐ **Key Points:**
* Ethereum surged sharply from the \$2,400 support, now above \$2,700.
* Price remains above the 100-hour MA and the bullish trend line at \$2,540.
* Strong resistance at \$2,740โ\$2,750, potential rise to \$2,880 if broken.
* Solid technical support, but correction pressure still needs to be monitored.
๐ **๐ Technical Trends & Critical Levels**
* RSI above 50, MACD strengthening in positive territory.
* Price structure shows breakout potential, as long as it does not drop below \$2,580.
* Main support: \$2,640 and \$2,540. A break below this could trigger a drop to \$2,450.
* Main resistance: \$2,750, then targeting \$2,880โ\$2,920 if momentum continues.
๐ข **๐ Market Sentiment and Catalysts**
* ETH recovered alongside BTC after macro concerns eased.
* Anticipation of spot ETH ETF and market liquidity also boosts buying interest.
* Trading volume increased, indicating market participation is starting to recover.
๐ **What to Watch For:**
* A break above \$2,750 could validate a new bullish direction.
* Watch for price rejection at resistance and quick corrections.
* Monitor market reactions ahead of inflation data and The Fed's policy.
