Ethereum’s Daily Chart Hints at a Potential Breakout

Ethereum (ETH) is showing signs of stabilization after a volatile period, with several key technical indicators suggesting a potential trend reversal.

Over the past week, ETH has respected major support zones around $2,414 and $2,398, while attempting to challenge resistance near $2,518. Momentum indicators such as the MACD are beginning to flatten, with the histogram showing early signs of bullish divergence. The RSI has also moved up from oversold territory and is approaching neutral ground, indicating a balance between buyers and sellers.

Meanwhile, the 9-day EMA is converging with the 20-day EMA—often a signal of an impending directional move. If bulls manage to push price above the $2,538 resistance band, it could set the stage for a breakout toward $2,607 and higher.

Traders are closely watching for confirmation. A strong daily close above resistance, supported by rising volume and improving momentum, could offer compelling long opportunities. Conversely, rejection from current levels may suggest another pullback to support before any sustained rally.

As always, technical analysis provides context—but timing and confirmation remain key.

#Ethereum #CryptoTrading #TechnicalAnalysis #ETH $ETH

Read the full analysis on Ecoinimist: www.ecoinimist.com/2025/07/02/ethereum-major-move-etf-10b-tailwind