Ethereum Surges Over 23% to Reclaim $2,600 Amid Market Optimism
Ethereum's Recent Performance
- ETH has increased over 23% since June 22, surpassing the $2,600 level.
- Bulls are targeting the $2,700 resistance zone for potential further gains.
- Positive macroeconomic sentiment and risk appetite are contributing to Ethereum's recovery.
- Analyst Ted Pillows predicts ETH could exceed $10,000 this cycle due to strengthening fundamentals and institutional interest.
- A breakout above $2,800 may trigger similar movements in other altcoins.
Technical Analysis
- ETH has closed above key moving averages, signaling bullish momentum.
- The price surge has been supported by rising trading volume.
- Support is located near $2,500, where multiple moving averages converge.
- A close above $2,700 could lead to testing the $2,900–$3,000 range.
- The current technical setup indicates a potential trend reversal if momentum is maintained.
Market participants are monitoring Ethereum closely as pivotal levels are tested, which could signal the start of an altseason.