The technical indicators for Ethereum are converging, suggesting a possible breakout in the near term. The weekly Relative Strength Index (RSI) is approaching an important trendline resistance level, and this key point typically indicates that the price will experience strong fluctuations. The trading range for ETH is between $2,400 and $2,700, with the current price at $2,465. Market analysts are closely monitoring the decisive movement to break through this range. After a breakout, Ethereum may surge towards the $3,000 mark, breaking through the upper trendline of the expanding wedge pattern that has been suppressing price movements for weeks.
