Ethereum Gains 55% Since May, Consolidates Above $2,500

Ethereum has been consolidating above the $2,500 mark, showing signs of renewed strength and optimism in the crypto market. This consolidation comes as Bitcoin leads the charge, surging past its all-time highs and entering a phase of price discovery. Ethereum's recent performance has been impressive, with gains of over 55% since early May. However, it still lags behind Bitcoin's pace and has yet to reclaim its 2021 highs.

Analyst Daan highlighted that Ethereum has been trading within the $2,400–$2,600 range since its recent surge. This range-bound price action indicates indecision among buyers, who are active but have not yet triggered a breakout. Despite Bitcoin's strong leadership, Ethereum's performance has been more muted. The $2,400 level has acted as solid support, while resistance above $2,800 remains the next target for a continuation. If Ethereum can escape this range and follow Bitcoin's lead, it could be poised for a significant surge.

As Bitcoin continues to lead the market, Ethereum is preparing for a potential breakout. The broader crypto market appears to be entering a fresh phase of momentum, which could drive massive gains across altcoins. Ethereum remains in a critical position, holding firmly above support and showing signs of building strength. To confirm a bullish continuation, Ethereum needs to break decisively above resistance and lead the altcoin rally.

Daan emphasized that the $2,500 zone has been well-defended by bulls, but Ethereum has yet to produce a convincing breakout. The key resistance level to watch is $2,850—clearing it would mark a technical shift toward higher highs. On the flip side, if Ethereum falls below $2,100, it could trigger a broader pullback. For now, Ethereum remains range-bound but poised, with market sentiment growing more optimistic by the day.

Ethereum is currently trading around $2,668, showing signs of renewed strength on the 4-hour chart. After weeks of consolidation in the $2,400–$2,600 range, Ethereum has pushed toward the upper boundary of this zone, hinting at a possible breakout. The recent bounce from support around $2,450 has been strong, with consecutive green candles and rising volume signaling increasing bullish momentum. The 200-period SMA and EMA, currently at $2,077 and $2,1,99 respectively, are well below the current price, confirming a bullish market structure. Ethereum has held above both moving averages since early May, and the current price action appears to be building up pressure for a decisive move.

However, Ethereum must now break above $2,700 convincingly to confirm a breakout and signal a continuation toward higher resistance at $2,850 and beyond. This level has been tested multiple times, but sellers continue to defend it. A breakout could trigger a rapid move to $3,000, while failure to hold current levels could drag Ethereum back toward its previous support. All eyes are now on Ethereum's next move, as it prepares to potentially lead the next leg of the altcoin rally.