After hitting a new local high and crossing the $2,739 mark, Ethereum is once again gaining ground and hitting prices not seen since late February. After suffering severe pressure early this year, the surge represents ETH’s robust return. As the larger cryptocurrency market awakens and cash pours back to altcoins, bulls now seem to be firmly in control. Because of Ethereum’s relative strength compared to Bitcoin and rising investor confidence, analysts are predicting a possible altseason. Ethereum has seized the chance to outperform while Bitcoin consolidates close to all-time highs, confidently rising past significant resistance levels.
Sentora (previously IntoTheBlock) data shows that during the last seven days, $1.2 billion worth of ETH has been taken out of centralized exchanges, corroborating this story. Long-term bullish momentum is strongly indicated by this persistent trend of net inflows, which also points to ongoing accumulation and less sell-side pressure. Ethereum may be getting ready for a significant breakout as price activity heats up and investor attitude changes. The $3,000–$3,100 range could be tested in the upcoming days as the next significant resistance zone if bulls continue to hold control. As the altcoin market begins to show signs of life, all eyes are now on ETH.
With growing speculation of a sustained surge, Ethereum is trading above crucial levels. ETH has surged back to life after weeks of slow movement, increasing in value by more than 50% since last week. With many experts seeing Ethereum’s breakthrough as the possible catalyst for broader altcoin market strength, this dramatic upward rise has rekindled expectations for an altseason. Ethereum is currently firmly above the $2,600 mark, which for months had served as a formidable barrier. This breakout indicates that bulls are taking back control, especially when combined with growing momentum against Bitcoin. The next significant resistance area, which lies between $2,900 and $3,100, is being watched by traders with great interest as it may be a crucial test of Ethereum’s upward trajectory.
Sentora data shows that over the last seven days, $1.2 billion worth of ETH has been taken out of centralized exchanges, supporting the bullish argument. Since early May, this pattern has gotten stronger, suggesting that investor accumulation has increased and sell-side pressure has decreased. Large exchange outflows are sometimes interpreted as an indication that holders want to hold ETH off-exchange, which would reduce the immediate supply and encourage price growth. With Ethereum leading the way and market sentiment turning bullish, everyone is now watching to see if ETH can sustain its momentum and propel the altcoin market into a new stage of expansion. Ethereum’s trajectory towards $3,100 may pave the way for a wider market rebound if accumulation patterns continue and bulls maintain important milestones.
After weeks of bearish pressure, Ethereum’s weekly chart displays a strong breakthrough, and the price of ETH is currently trading at over $2,599.14. Two important long-term trend indicators, the 200-week EMA ($2,259.65) and the 200-week SMA ($2,451.55), were both overtaken by the price during the recent spike. Regaining these levels indicates a significant change in attitude and fresh positive momentum. One of the biggest weekly green candles in more than a year, the breakout candle alone indicates a significant surge in buyer interest and might signal a significant reversal point following months of decline. The local high for the week was $2,739.05. This rise is noteworthy since it pushes ETH to levels not seen since February.
The strength of the rally has been confirmed by the notable increase in volume during this move. Ethereum, meanwhile, is currently up against overhead barrier in the $2,800–$2,900 range, which served as support in early 2024 prior to the collapse. A challenge of the $3,100 resistance level may be possible if bulls keep up their pace and close over $2,600 this week. The 200-week SMA and $2,450 are the main supports to keep an eye on on the downside. If that level is not maintained, a $2,250 retest may be invited. The trend is bullish for the time being, but next week’s follow-through will be critical.