ETH is currently trading above $2,500, marking a nearly 40% gain over the past month, according to market data. Still, the token remains approximately 48% below its all-time high of $4,878, reached in 2021. On the technical front, sellers are attempting to push Ether below the 20-day exponential moving average (EMA) at $2,502. However, bulls have managed to defend the level, signaling strength at this key support. Ethereum co-founder Vitalik Buterin recently addressed scaling expectations, acknowledging that while some in the community hoped to expand the Layer-1 network’s capacity by 1,000 times, such rapid growth could compromise decentralization. He emphasized a more cautious, deliberate approach to scaling, prioritizing the long-term health and resilience of the network.
At the time of writing, ETH was trading at $2,595.
ETH, after breaking the ‘Descending Channel’ pattern, consolidated in a range from $1,750 to $1,850. The asset finally gave a breakout above the range and witnessed a massive rally. The price surged by almost 50.7% and made a recent high of $2,788. ETH is currently consolidating and trading in a range from $2,450 to $2,750. Once it gives a breakout above the range with good volumes, we may expect it to rally further up to $3,000.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $2,150 | $2,350 | ETH | $2,750 | $3,000 |
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