Ethereum is mirroring Bitcoin's recent bullish momentum, steadily climbing as market confidence strengthens. After weeks of consolidation, price action is now pressing against a key resistance zone, signaling a potential breakout.
The move builds on a controlled grind higher, with analyst Michaël van de Poppe highlighting ETH's approach to a crucial barrier. Repeated tests of this level without significant rejection suggest sell orders are being absorbed, increasing the likelihood of a bullish phase.
The key resistance sits around €2,070 (approximately $2,430), according to van de Poppe's analysis. Beyond that, targets include €2,350 ($2,759) and €2,900 ($3,400), though these levels remain speculative until a breakout confirms the trend.
A sustained move above $2,430 could open the door for a stronger rally, attracting additional buyers. However, failure to break through may lead to continued consolidation or a brief pullback.
Skeptics warn that Ethereum has historically struggled at resistance zones, and external macroeconomic factors could still derail momentum. Without a confirmed breakout, traders remain cautious.