The price of Ethereum has increased by 46% in a month

The price of Ethereum has risen by 46% in the last 30 days. Analysts expect a breakout for the coin. Reasons cited include stable demand for spot ETFs and strengthening market structure.

15-minute chart of ETH/USDT on Binance. Data: TradingView. At the time of writing, the cryptocurrency is trading at $2630. MN Trading founder Michael van de Poppe stated that Ether is "ready for a significant breakout upwards".

Key support is around the $2400 level. The resistance zone is between $2680 and $2850. In his opinion, for the price of the coin to reach a new annual high, it must break through this level. Analyst Rekt Capital noted that Ethereum is trying to establish $2500 as support.