- Ethereum eyes breakout above $2,700 resistance
- $2,420 is a crucial support level to watch
- Altcoins may react to Ethereum’s next move
Ethereum (ETH) is currently trading just under a critical resistance level, sparking bullish excitement across the crypto market. As of now, the asset is printing higher lows, showing strong accumulation just beneath the $2,700 mark. This pattern signals growing buying pressure as investors anticipate a potential breakout.
A daily close above $2,700 would be a key technical confirmation. If achieved, it opens the door for a price move toward the $3,150–$3,500 range—a level that hasn’t been seen in months. Such a breakout would represent a significant shift in Ethereum’s short-term trend and could boost sentiment across the broader altcoin market.
Range Still in Play, But Pressure Builds
Despite the bullish setup, Ethereum remains within a tight trading range between $2,400 and $2,700. This range has acted as a battleground between bulls and bears, with both sides defending their positions.
If ETH fails to break above resistance, traders should watch the ascending trendline closely. A daily close below this trendline would signal a loss of short-term bullish momentum and could send prices lower.
Support at $2,420 is the first critical level to watch. If that breaks, $2,280 becomes the next potential stop. A breakdown to these levels might shift market sentiment and increase selling pressure.
Altcoins on Standby
Altcoins often follow Ethereum’s lead, especially during key market moments. A breakout or breakdown in ETH could trigger significant moves across the altcoin market. Traders are closely watching Ethereum’s behavior at current levels as it could set the tone for the entire sector in the short term.
With momentum building and price action tightening, Ethereum is approaching a decisive moment.
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