Ethereum Stays Above Crucial Price Levels – Indicators Suggest $2,900 As Bullish Catalyst

Ethereum is currently facing a pivotal moment as it nears the $2,700 mark, considered a significant barrier that bullish traders need to surpass to establish a favorable momentum. This situation follows Bitcoin’s recent surge beyond its historical peak, pushing the entire cryptocurrency sector toward a promising phase that may result in considerable gains for various altcoins. For Ethereum, this pivotal point could dictate the trajectory of its recovery movement.

Since the beginning of May, ETH has experienced an increase exceeding 55%, driven by renewed investor enthusiasm, robust market dynamics, and the ongoing shift of capital from Bitcoin into prominent altcoins. The mood is shifting, and Ethereum’s capacity to lead this trend will likely affect the speed of the forthcoming altseason.

Data from Glassnode indicates a strengthening foundation for this trend. In May, Ethereum reclaimed its Realized Price at $1,900, enabling the average holder to regain profitability after an extended period of losses. The price has also climbed above the True Market Mean at $2,400, a historically reliable bullish indicator. Nevertheless, a decisive break above the $2,700 threshold remains crucial to validating this trend and attracting additional momentum-fueled investments. The ability of ETH to provide this confirmation will significantly influence the pace at which the altcoin market gains momentum following Bitcoin’s breakout.

Ethereum Stands Strong as Altcoin Activity Increases

Ethereum is taking a central role in the altcoin surge as traders prepare for what is anticipated to be a significant rally shortly. After experiencing months of fluctuations, ETH has re-established its strength by overcoming vital technical and on-chain markers. Following its resurgence above the $2,200 level, Ethereum’s price pattern has shifted firmly into bullish territory, creating higher lows and consolidating around a crucial resistance level near $2,700.

With bulls firmly in control, Ethereum is once again seen as a benchmark for the overall sentiment within the altcoin market. In an environment now characterized by Bitcoin’s recent advance past previous all-time highs, ETH stands poised to gain from the reallocation of capital into major altcoins. However, to fully confirm a continuation of bullish momentum, Ethereum must break above and maintain levels between $2,700 and $2,900.

On-chain insights from Glassnode also lend further support to a bullish outlook. In May, Ethereum surpassed its Realized Price at $1,900, allowing the average holder to enter into profitability—a milestone often associated with renewed investor confidence. ETH has also exceeded its True Market Mean at $2,400, a critical benchmark that corresponds with strong accumulation periods.

However, the final resistance lies at the Active Realized Price, currently positioned around $2,900. Successfully reclaiming this level would not only confirm a significant structural breakout but also indicate that recent buyers are maintaining their positions and that confidence is returning on a larger scale. Until that occurs, ETH remains in a solid setup, with the upcoming sessions being critical to determine whether the leading altcoin is ready for another upward movement.

ETH Price Approaches Significant Resistance

Ethereum keeps climbing, with its price now stabilizing around the $2,665 level after briefly reaching $2,734. The daily chart reflects a clear upward trend since early May, featuring higher lows and robust buying interest promoting the growth. Key moving averages indicate a bullish trajectory, with the 34 EMA at $2,249 and the 50 SMA at $1,965—both considerably lower than the current price, reaffirming a bullish framework.

The imminent technical obstacle lies at the 200-day SMA, identified at $2,703. This long-standing indicator has served as dynamic resistance in previous cycles and warrants close monitoring. A daily close above this level could catalyze a breakout, confirming a broader continuation of bullish trends and potentially paving the way for a return to the $2,900–$3,000 zone.

Volume has seen a slight uptick in recent bullish candles, indicating increasing demand, yet the challenge at the $2,700 level could invite short-term profit-taking. Support levels are anticipated around $2,445 (100 SMA) and $2,080 (near the True Market Mean), which are likely to provide a buffer in case of a pullback.