Ethereum has finally pushed above the critical $2,600 level after weeks of range-bound trading, marking a potential turning point in its price structure. This breakout comes as bullish momentum builds, with Ethereum now preparing for a possible expansion toward the $2,800 resistance level—a zone that has repeatedly rejected upward attempts since early May. The coming days will be decisive in shaping Ethereum’s short-term trajectory, especially if bulls manage to drive the price beyond this key barrier.
A breakout above $2,800 would not only signal renewed strength in Ethereum but could also catalyze a broader altcoin rally. Market sentiment is gradually shifting, with traders growing more optimistic amid easing macroeconomic pressures and signs of renewed risk appetite.
Top analyst Ted Pillows recently shared an Ethereum chart showing a clear upward breakout from compression. This technical pattern typically precedes strong directional moves, and in this case, it favors the bulls. Pillows suggests that Ethereum is taking the lead while Bitcoin remains in consolidation, indicating that ETH may be setting the pace for the next phase of the crypto cycle. All eyes are now on the $2,800 level, which could unlock significant upside if breached.
Ethereum Leads the Charge: Major Move Ahead
Since early May, Ethereum has traded within a tight consolidation range between $2,400 and $2,700, unable to break out despite several attempts. This extended period of sideways action has built up pressure, and market participants widely expect the next move to be significant. Bulls have shown resilience, defending demand levels and keeping ETH above the $2,500 mark for several weeks. However, a clear breakout above critical resistance is still needed to confirm a broader bullish trend.
Altcoins continue to struggle, with most still trading below key resistance levels. Many analysts agree that a sustained Ethereum breakout is the missing trigger for the long-awaited altseason. Market leadership from ETH has historically marked the start of major altcoin rallies, and the current setup could be no different.
Top analyst Ted Pillows shared a 4-hour chart highlighting an upward breakout from a compression pattern just above $2,600. According to Pillow’s analysis, Ethereum is leading the market while Bitcoin remains in a holding pattern below all-time highs. This leadership role for ETH could signal a shift in capital toward altcoins, especially if Ethereum follows through and breaks the $2,800 resistance level.
ETH Price Analysis: Upward Momentum Builds Above $2,600
Ethereum (ETH) is showing renewed strength after breaking above the key $2,600 level. The 12-hour chart reveals a bullish structure forming, with ETH currently trading at $2,612.61. This move follows a sustained period of consolidation between $2,400 and $2,600, where buyers consistently defended lower levels. Now, Ethereum is printing higher lows and gradually reclaiming its moving averages.
Price is now trading above the 50-period and 100-period simple moving averages (SMAs), currently positioned at $2,483.37 and $2,536.77, respectively. This alignment is bullish and suggests ETH is building momentum for a potential retest of the $2,700–$2,800 resistance zone. A successful break above this area would confirm the breakout from compression and open the door for a more significant rally.
Volume remains moderate, but recent green candles show growing buyer interest as ETH pushes upward. The 200-period SMA sits lower at $2,221.56, reflecting Ethereum’s longer-term bullish trend and acting as a strong base of support.
Featured image from Dall-E, chart from TradingView
