Ethereum’s decisive weekly close above the EMA50 resistance marks a significant technical breakthrough, ending a prolonged nine-week consolidation phase between $2,650 and $2,700. This bullish momentum shift is reinforced by robust trading volume during the breakout and solid price support near the $2,400 level.
Technical indicators signal potential for continued upside: the Relative Strength Index (RSI) registers near oversold territory at 20.37, while Moving Average Convergence Divergence (MACD) alignment suggests strengthening upward momentum. Market analysts highlight that sustained movement above the $2,850 resistance level could propel Ethereum toward $4,100 pricing targets.
Investors should remain vigilant as failure to breach the $2,850 threshold may trigger retracements toward $2,400 or $2,200 support zones. Monitoring this critical resistance level remains paramount, with risk management protocols recommended due to potential volatility amid shifting market conditions.