After several weeks of sideways consolidation and market hesitation, Ethereum has finally made a decisive move that could reshape its trajectory for the months ahead. In the last five days alone, bullish momentum has driven Ethereum’s price to convincingly break above the $2,200 threshold — marking a remarkable 32% gain over the past week.
This breakout comes amid renewed enthusiasm across the entire cryptocurrency market, sparked largely by Bitcoin reclaiming the coveted six-figure mark. As Bitcoin’s rally reignites broader investor confidence, altcoins like Ethereum are reaping the benefits, propelling the market into a new phase of optimism.
However, Ethereum’s recent surge appears to be driven by more than just Bitcoin’s shadow. A closer examination of Ethereum’s daily candlestick chart suggests that this is not merely a short-term reactionary move. Technical indicators point to the early stages of a fresh, sustained uptrend. Key support levels have been firmly established, while higher highs and higher lows indicate growing strength in buying pressure.
If Ethereum can maintain momentum above this psychological resistance and consolidate gains, it could lay the foundation for further appreciation in the near to mid-term. Traders and long-term holders alike will be watching closely to see if Ethereum can sustain this bullish structure, potentially targeting higher resistance zones in the weeks to come.
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