After breaking a significant resistance zone, Ethereum's price movement on June 10th suggested a potential change in market structure. Before experiencing heavy seller activity just below the $2,770 mark, the digital asset jumped to $2,755, breaking through the $2,690 barrier.
This level is still a significant obstacle, according to data from Binance's 4-hour perpetual contract chart.
Ethereum started to rise on June 9 from the $2,490–$2,610 range, increasing by 2.94% in a single day. On June 7, a higher low formation at $2,410 preceded the breakout.
A period of consolidation that continued into late May and early June came to an end with this technical pattern.