After weeks of trading in a range, Ethereum finally broke above $2,600, marking the potential for a turning point. This breakout comes as bullish momentum builds, with Ethereum now preparing for a possible expansion toward the $2,800 resistance level—a zone that has repeatedly rejected upward attempts since early May. These days will determine the trajectory of Ethereum in short-term, particularly if bulls are able to push it beyond that key resistance level.
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If Ethereum were to break above $2.800, it would signal renewed strength. It could also be the catalyst for a rally of other altcoins. As macroeconomic tensions ease and there are signs of renewed appetite for risk, the market is slowly changing.
Ted Pillows is a leading analyst who recently published an Ethereum chart displaying a strong upward breakout. In this case it is a bullish pattern. Pillows indicate that Ethereum leads while Bitcoin remains in consolidationETH could be a leader in the new phase of crypto. Now, all eyes are on the $2.800 level. If breached, this could open up significant upside.
Ethereum leads the charge: major move ahead
Ethereum has been trading in the same tight range since May 1, unable to move out of it despite multiple attempts. Market participants expect the next big move after this extended period of sideways trading. Bulls showed resilience by defending the demand level and maintaining ETH above $2,500 for several weeks. To confirm the bullish movement, however, it is necessary to see a breakout of critical resistance.
Altcoins struggle to gain traction, as most are trading under key resistance levels. Analysts agree that the key to the altseason is a sustained Ethereum break-out. Historically, ETH’s market leadership has marked the beginning of altcoin rallies. The current situation could not be any different.
Top Analyst Ted Pillows shared Chart showing a breakout upward from the compression pattern at just over $2,600. Pillow’s analysis shows that Ethereum leads the market, while Bitcoin is in a hold pattern just below its all-time highs. This leadership position for ETH may signal a move in capital towards altcoins if Ethereum breaks through the $2.800 resistance level.
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ETH Price Analysis: Upward Momentum Builds Above $2,600
Ethereum (ETH), which has recently broken above $2,600 is now showing renewed strength. On the 12-hour chart, a bullish pattern is forming. ETH trades at $2,612.61. The move comes after a period of sustained consolidation, between $2400 and $2600, during which buyers continuously defended lower prices. Ethereum has now started to print higher lows, and is slowly reclaiming the moving averages.
The price is currently trading above both the 100-period SMA and 50-period SMA, which are now positioned at 2,483,37, and $2,536.77 respectively. This alignment is bullish and suggests ETH is building momentum for a potential retest of the $2,700–$2,800 resistance zone. If ETH were to break through this zone, it would be a confirmation of the compression breakout and the start of a significant rally.
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The volume remains low, but the recent green candlesticks show growing interest from buyers as ETH continues to rise. The 200-period SMA is lower, at $2.221.56, reflecting Ethereum’s long-term bullish trends and serving as a solid base of support.
Featured picture from Dall E, chart by TradingView
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Source: www.newsbtc.com
