Ethereum Prepares for $2,850 Rally Amid Potential Dip to $2,100

Ethereum (ETH) has regained its crucial $2,200-$3,900 macro range after a nearly 45% surge, recovering from an 18-month low of $1,380. Currently, ETH trades between $2,400-$2,600, reaching a two-month high of $2,624.

Market Analysis

ETH broke through the $2,000 resistance and retested $2,600 over the weekend.
Analysts expect sideways trading in the $2,400-$2,700 range before a potential next jump.
A drop below $2,100 could lead to further consolidation, while breaking past $2,600 may target $2,850-$2,900.

Dip or Shakeout?

Rekt Capital noted a significant Weekly Close at $2,514, suggesting future upward movement.
Any dip might confirm $2,200 as support, with a potential pullback of 10%-15% if key levels are lost.
ETH has filled the $2,530-$2,630 Daily CME Gap and formed smaller gaps at $2,300-$2,400 and $2,100-$2,200.
Interest remains in filling the Macro CME Gap between $2,900 and $3,350.

As of now, Ethereum is priced at $2,597, reflecting a 5% increase in the daily timeframe.