Ethereum is back in the spotlight as it reclaims the $2,800 mark, sparking excitement among crypto enthusiasts. The king of altcoins has been on a roll, hitting a three-month high of $2,879 this week after bouncing back from a dip to $2,400 last week. The recent surge has analysts buzzing about what’s next for ETH. Analyst Carl Runefelt from The Moon Show points out that Ethereum has broken out of an ascending triangle pattern, setting its sights on the $3,100 resistance level. If the momentum holds, we could see another 10% surge in the near future. Runefelt isn’t the only one feeling bullish. He also highlights a bullish pennant formation in Ethereum’s trading pair against Bitcoin (ETH/BTC), suggesting a potential 30% jump toward the 0.03300 mark. Kaleo, another market watcher, draws parallels between Ethereum’s current performance and its 2020 rally. Back then, after reclaiming a key trendline, ETH went on a 20-month upward streak. Could history repeat itself? Kaleo thinks so, especially if Ethereum reclaims its multi-year ascending support trendline. Meanwhile, analyst DonAlt adds to the optimism, calling Ethereum’s chart ‘pretty good’ and suggesting that a new all-time high is likely if the $3,800 resistance falls. The invalidation point? A drop below $2,200. As of now, Ethereum is trading at $2,803, up 6.7% in the last 24 hours. The crypto market is watching closely. Will ETH keep climbing? Only time will tell.
Ethereum Eyes Major Rally After Breaking Key $2,800 Level
