Altcoins News
By Sakamoto Nashi
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Ethereum (ETH), the second-largest cryptocurrency by market cap, has made a decisive move above the $2,800 price level, following a sharp rebound from a recent low of $2,483.
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The turnaround came after ETH found support near the $2,500 region—a level that acted as a strong base for a reversal.
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Technical indicators on Ethereum’s price chart paint a promising picture for bulls. ETH is now trading well above $2,750 and has also crossed its 100-hour Simple Moving Average—a…
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A newly-formed bullish trend line on the hourly ETH/USD chart is providing additional support near $2,750, further solidifying the case for higher price movement.
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Analysts say if ETH can sustain its position above $2,800, the next resistance levels to watch are $2,850 and $2,880.
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According to prominent crypto analyst @SkullSignal, Ethereum’s bounce from the $2,385 zone (just above the $2,420–$2,450 support range) was a strong bullish signal.
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As ETH climbed past the mid-range channel, it hit a key target zone between $2,700 and $2,800—confirming the strength of the upward trend.
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Adding to the momentum, Ethereum’s open interest has surged past $40 billion—a record level for the network.
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Data from CoinGlass reveals a nearly balanced liquidation zone on both sides of the market. Around $2 billion in long positions are vulnerable if ETH falls to $2,600, while…
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Ethereum bulls are now laser-focused on breaking past the $2,850–$2,880 resistance zone. If they succeed, a run to $2,920 could occur swiftly, especially as market confidence…
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Meanwhile, traders are advised to be cautious due to the elevated open interest. Large-scale liquidations could amplify price movements in either direction.
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Interestingly, Ethereum has recently outperformed Bitcoin, despite the broader market remaining cautious.
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As Bitcoin consolidates around $70,000, Ethereum’s aggressive move could be an early indicator that altcoins are beginning to gain strength heading into the next market phase.
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Ethereum’s powerful bounce from the $2,483 support level and its subsequent surge above $2,800 have revitalized bullish hopes.
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If Ethereum breaks above $2,880 and holds the $2,750 support, a rally toward $2,920—and potentially higher—could be the next major move.
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