The Ethereum (ETH) token surpassed the 2,800 USD level after breaking out of the symmetrical triangle pattern near the 2,770-2,790 USD range. This marks its first rise since March 2025. Technical indicators, including MACD, RSI, and DMI, support the upward momentum, with increasing trading volume confirming this breakout. Ethereum is currently experiencing stability around the mid-2,800 USD range.
Support is at the 2,773 USD level, with deeper levels at 2,650 USD, supported by the Supertrend and EMA indicators. Immediate resistance is at the 2,960 USD level. Continued upward movement above this level could lead to further gains towards the 3,000 USD level, potentially reaching 3,200 USD in the near term.
Institutional participation continues to increase. Ethereum exchange-traded funds are seeing steady inflows, while the open interest in Ethereum futures contracts at the Chicago Mercantile Exchange recently reached 3.27 billion USD, reflecting growing confidence from institutional traders. Ethereum's proof-of-stake model and its deflationary burn mechanism have contributed to reducing circulating supply, bolstering its long-term fundamentals.
Ethereum continues to represent a foundational layer in the infrastructure of decentralized finance (DeFi) and non-fungible tokens (NFTs), enhancing its value proposition. With Bitcoin reaching new all-time highs, analysts expect a capital shift towards Ethereum and other altcoins, indicating greater growth potential.
4,100 USD, contingent on maintaining strength above the range of 2,773-2,800 USD. Market sentiment is generally positive, with upward momentum supported by strong fundamentals.
If Ethereum's price breaks the 2,960 USD level and maintains its position above this level, it may test a range between 3,000 and 3,200 USD. However, a drop below 2,773 USD could lead to a phase of consolidation or a slight pullback. Currently, Ethereum's outlook remains positive, supported by institutional flows and strong supply chain activity.
#TrendTradingStrategy #MuskAmericaParty #TruthSocialCryptoBlueChipETF #BinanceSquareFamily