Ethereum Breaks Above Crucial $2,800 Level

Ethereum Breaks Above Crucial $2,800 Level

Ethereum broke above the crucial $2,800 level for the first time in four months. The price climbed as high as $2,870 before facing resistance and pulling back. According to a technical analysis shared by Crypto Patel, Ethereum had been trading within a defined range since early May, between support at $2,366 and a resistance at $2,734

The breakout past $2,800 marked a critical move, potentially setting the stage for a further rally toward $3,500–$4,000 if the momentum holds. However, Patel cautioned that Ethereum must stay above the $2,750 breakout level to confirm a sustained bullish reversal. 

If the asset fails to maintain that level, it risks falling back into the prior range. The rejection at higher levels and subsequent pullback has left the market on edge, particularly with Ethereum now down by 9.6% in the last 24 hours.