Ethereum Price Tests $2,800 Resistance Amid Breakout Speculation

Ethereum surpassed $2,820, signaling potential for a breakout after weeks of consolidation. This movement has increased trader optimism about further gains as global market conditions improve amidst speculation of a US-China trade deal.

Key points include:

ETH is nearing the upper boundary of an ascending channel, crucial for breaking out to higher levels.
Analysts emphasize the importance of volume and confirmation signals for a sustained upward trend.
A decisive break above the channel could target $3,000 or more.
Current price around $2,771 indicates resistance at $2,800 remains significant.
Failure to maintain this level may lead to a retest around $2,600–$2,650.
Overall bullish momentum supported by rising moving averages.

If Ethereum converts $2,800 into support and maintains above critical moving averages, it could catalyze a broader altcoin rally. The next price movements will be crucial in determining market direction heading into summer.