Ethereum Trading Above $2,700 as Key $2,800 Resistance Approaches
Ethereum is trading above $2,700, recently reaching $2,790. Analysts anticipate a potential breakout that could boost ETH and initiate an altseason.
- ETH spot premium remains strong despite lower ETF inflows compared to Bitcoin.
- Current resistance levels are between $2,700 and $2,800, critical for future price movement.
- A successful breakout may lead to new all-time highs; rejection could result in a deeper retracement.
- Global macro factors, such as rising U.S. Treasury yields and inflation, have increased systemic stress but Ethereum and Bitcoin show resilience.
- Daan noted that ETH needs less inflow relative to its market cap to maintain bullish trends.
Ethereum is currently at $2,731, testing the key resistance at $2,800 after consolidating between $2,500 and $2,700. Strong momentum is indicated by higher moving averages and increased volume.
- The 34 EMA at $2,622 and 50 SMA at $2,598 provide dynamic support.
- A sustained break above $2,800 could lead to a swift move towards $3,000.
- Increased volume suggests confident buying, but traders should monitor for potential rejection or profit-taking.
