Ethereum is showing strong signs of a trend reversal after an impressive 45% rally last week, reclaiming major technical levels and reigniting optimism in the broader altcoin market. The surge has brought ETH back into key resistance zones, which, if broken, could signal the beginning of a sustained altseason. This renewed momentum follows a prolonged period of bearish sentiment and relative underperformance, making the current breakout all the more significant. Analysts suggest that Ethereum’s price action could serve as a catalyst for renewed investor interest in altcoins, potentially setting the stage for a broader market recovery.
At the time of writing, ETH was trading at $2,442.
ETH, after taking support at the key level of $1,350, started moving upward. The asset gave a breakout above the ‘Descending Channel’ pattern and witnessed a massive rally. Prices surged by almost 88% from the recent lows of $1,385 to $2,608 over the past month. ETH has strong resistance at $2,850. If it breaks and closes above this level with good volumes, then we can expect prices to rally further up to $3,000 and $3,350.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $2,150 | $2,350 | ETH | $2,850 | $3,000 |
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