The price of Ethereum (Ethereum) has finally broken through the stubborn resistance level of 2,800$ with bulls (bullish speculators) strongly controlling the price movement. As of the time of writing this report, Ethereum is trading above 3,280$ for the first time since February, being only 9.65% away from breaking a four-year channel that has kept the price below its all-time high of $4,891 recorded in 2021.

With the formation of a bullish flag pattern and trading volume exceeding $40 billion, it seems likely that the price of Ethereum (Ethereum) will surpass 3,500$ before the end of the week, and it may reclaim the important psychological level of 4,000$ sooner than expected.

The breakout of Ethereum (Ethereum) outperforms the market across all major indicators.