$ETH stouplo by 8%. The price increased from a minimum of 2,480 and traded above 2,700. Strong trading volume supported by trading optimism creates conditions for a potential breakout of the monthly trading range. From a technical perspective, momentum indicators confirm bullish tendencies in the near term, with the RSI indicator heading upward towards a value of 64 and the MACD indicator hovering above zero, but slightly below its red signal line. The altcoin currently faces strong resistance near the level of 2,750, which is also the ceiling of the trading range from May 9 to June 9 and the maximum from May 29. A breakout above this level should aim to reach the round number of 3,000 before the level of 3,076. On the downside, ether could find short-term support near the 20-day simple moving average (SMA) at the level of 2,500. Further below it, strong support could be provided at 2,431, which is supported by the 200-day SMA, before the 50-day SMA near 2,330, which converges with a short-term upward trend line. Ethereum has gained a sharp 8% in the last 24 hours, coinciding with Bitcoin's persistent rise above 109,000, which supported an otherwise flat crypto market. To maintain the bullish trend in the near term, a firm breakout above the level of 2,750 is needed.