Ethereum (ETH), the second largest crypto and the backbone of the DEFI ecosystem, is currently negotiated at around $ 2,599, marking a modest increase of 6.09% in the last 24 hours. The latest DIP drew the attention of merchants and analysts, especially since Ethereum recently broke out of a extended consolidation range. With a renewed interest from institutional players, growing FNB entries and long -term holders who accumulate, the price of the ETH has reached a critical stadium and is about to disrupt the barrier.
So, is it just a healthy increase before another decline or the start of a strong upward trend?
ETH price approaching $ 2600
Ethereum tested the resistance around the range of $ 2,460 to $ 2,520, an area that she had trouble breaking convincingly. This level acts as a technical ceiling, with a price action repeatedly rejected. This made it a strong resistance zone, but it defended the support beach around $ 2,100. This suggests that the price of ETH builds a solid optimistic case, which can propel the price to new summits.
The long -term price action seems so impressive that the price of the ETH has finally exceeded the barrier at $ 2540 and reached $ 2,600. After having experienced major volatility in the past two weeks, the next weekly fence should unlock the levels not visited since February 2025. On the other hand, the weekly RSI has reached the crucial junction as it tests the descending trend line and a rise above the levels could validate an increase above the lower influence.
In addition, the weekly candle finds its resistance to mastery of 200 days at $ 2,642 and its support for the MA of 50 days at $ 2,431; Consequently, the realization of the resistance could push the levels in the pivot area between $ 2,692 and $ 2,808. Once these levels have been cleared, the Ethereum (ETH) price could reach $ 3,000 and a sustained recovery could raise levels to new heights.
