Ethereum has printed a higher high for the first time in more than a year and pushed through a resistance zone that had capped prior rallies. The move comes after ETH returned to its long-term logarithmic regression band, according to BeInCrypto, with analyst Benjamin Cowen saying he favors dollar-cost averaging through the second half of the US midterm year.

ETH reached $2,807 this week, while former resistance near $2,438 has flipped to support. A move above $2,920 would strengthen the case for $3,400, but the daily chart shows bearish divergence and falling volume. Holding $2,440 keeps the bullish structure intact; losing it could expose $1,950-$2,000.