Ethereum pushed above the $2,600 mark yesterday, signaling renewed momentum, but the rally lost steam as broader market uncertainty capped further gains. Despite this, ETH remains resilient, holding above critical demand levels that have supported its recent uptrend. Investors and analysts alike are watching closely, as Ethereum’s strength could be the catalyst that kicks off the long-anticipated altseason. Related Reading: Ethereum Supply On Exchanges Hits 7-Year Low – Breakout Loading? The broader crypto market remains in a cautious state due to macroeconomic volatility and shifting investor sentiment, but Ethereum’s ability to stay above $2,500 has helped maintain bullish conviction. Many are now eyeing the $2,650 level, which has historically acted as a barrier for upward moves. Top analyst Daan shared a technical analysis noting that ETH is currently pushing into a key resistance area around $2,650. If Ethereum can flip this zone into support, it could open the door for a more aggressive breakout and broader altcoin rally. While risks remain, the overall setup is increasingly favorable for Ethereum bulls, especially if Bitcoin stabilizes and global conditions don’t deteriorate further. The coming days may be pivotal in determining whether ETH can overcome this resistance and lead the next phase of the market cycle. Ethereum Faces Make-Or-Break Level As Speculation Builds Ethereum is once again trading at a pivotal level as the market eyes a potential breakout that could ignite an altseason. After months of underperformance marked by heavy selling pressure and limited upside, ETH has begun to show renewed strength. Bulls have defended key demand zones, and the recent consolidation around the $2,500–$2,600 range is now viewed as a launchpad for higher prices. Despite persistent global tensions, particularly US-China trade friction and rising Treasury yields, ETH has shown signs of resilience. Investors remain optimistic that Ethereum could soon outperform, especially as Bitcoin dominance shows signs of peaking. The long-anticipated shift in capital from BTC into altcoins may be near, and Ethereum is positioned to lead the charge. Daan highlighted Ethereum’s 4-hour chart, pointing to resistance around the $2,650 level as a crucial short-term hurdle. The chart reveals ETH grinding higher but unable, so far, to reclaim the level decisively. Should Ethereum successfully flip $2,650 into support, it would open the path toward $2,700 and potentially spark a bullish continuation. For now, bulls remain in control, but Ethereum needs to break through overhead supply to confirm the start of a new leg up. A decisive move above $2,700 could serve as the catalyst for both ETH and the broader altcoin market, marking a major sentiment shift across the crypto landscape. Related Reading: Ethereum Poised For A 5-Figure Breakout – Volatility Is Shaking ‘Weak Hands’ ETH Price Analysis: Rebound Gains Traction Ethereum is currently trading at $2,604 on the 4-hour chart after rebounding from a local low near $2,500. This recovery places ETH back above its 34-period EMA ($2,566) and all major short-term SMAs (50, 100, and 200), which suggests short-term bullish momentum is returning. However, price is still facing heavy supply just below the $2,650 resistance area, a level that has repeatedly rejected upward moves throughout the past month. The chart shows a clear horizontal range forming between approximately $2,500 and $2,700, with ETH unable to break either end decisively. Volume has remained relatively stable, indicating no strong conviction from bulls or bears yet. The recent bounce, though, marks a higher low, which could hint at a potential trend shift if followed by a higher high. Related Reading: Solana Reclaims Key Support After Sweeping Lows – Early Signs Of Reversal? As ETH approaches the upper bound of this range again, traders should monitor for a breakout above $2,650, which would confirm bullish continuation. Failing to clear this resistance could lead to another rejection back to $2,500 or the 200 SMA near $2,380. For now, Ethereum remains in consolidation mode, but price action is tilting slightly in favor of the bulls as long as support holds. Featured image from Dall-E, chart from TradingView
