ETH has held an impressive rally since April 7, climbing from $1,388 to $2,743. This powerful Move up It has attracted attention and marked a strengthening bullish momentum in the wider cryptocurrency market. As key resistance levels approach, ETH may maintain its strength and move towards the next psychological milestone.
Will Ethereum lead the next crypto market rally?
In his postal On X, Core expressed strong optimism about Ethereum’s price trajectory and pointed out how close the assets are to reach an all-time high (ATH). He said that since ETH currently trades at about $2,608, it only requires an additional $2,276, which is a new record shift of about 86.8% from current levels.
He noted that Ethereum has surpassed its movement in just 34 days, with its impressive rally rising from $1,388 to $2,743, an increase of nearly 97%. Therefore, the core shows that ATHS is not only inevitable. His analysis highlights the strength of Ethereum’s current trend and the potential for continued upward growth, especially in the context of broader market sentiment remains Bullish.
The core also disclosed another postal The Ethereum is at a critical moment again, with the price action knocking the resistance door of around $2,640. It turns out that this level has been difficult to crack in recent weeks, and it is an upward upper limit that limits the upward momentum.
If Ethereum breaks through the $2,640 resistance zone, then next Target $3,200 on radar, which is a key psychological and technical level that aligns with the previous price structure. This clean support of resistance may open the door for bullish continuation as confidence in the trend will be consolidated. Technical indicators are beginning to tilt bulls’ favor, and the number has begun to rise, two signs that buyers are preparing to take action.
No immediate oversold or oversold
Another analyst gemxbt has shared His insights into Ethereum’s current price action highlight the merger stage For ETH/USDT, about $2,600. According to the statement, Ethereum’s technical indicators show early signs of potential bullish momentum.
GEMXBT noted that the 5-day moving average (4MA) just exceeded the 10-day moving average (10mA). This crossover is often seen as a short-term Bullish signalsuggesting that if momentum is built, buyers can start to control. However, other indicators indicate that the market is still waiting for stronger confirmation.
From the chart, the Relative Strength Index (RSI) is currently hovering around the neutral zone, which means ETH is not an over-trading. Specifically, this neutral position suggests that prices may rise in either direction depending on the incoming quantity and wider market sentiment.
Meanwhile, the MACD (Moving Average Convergence Difference) indicator is slightly bullish, but Gemxbt claims it still lacks strong momentum, a sign that the bulls are not fully occupying the market. As far as critical levels are concerned, GemxBT identifies $2,550 as the support zone, while $2,650 is the resistance level. Decisive breaks beyond the resistance may start momentum upward, while sliding below may mark a short-term correction.
Featured images from Adobe Stock, charts from TradingView.com
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