Ethereum News Today: Ethereum Surges Past $2,800 Resistance, Eyes $4,000 Mark

Ethereum has recently surpassed its significant resistance level of $2,800, a price point it had been hovering around for several weeks. This breakout has set its sights on the $4,000 mark, with analysts suggesting that if Ethereum continues to surpass major resistance zones, the next targets could be $6,000, $8,000, and even $10,000 within this bull cycle. These potential price jumps are expected to occur in stages and could be influenced by a further decline in Bitcoin's dominance.

Cardano is also exhibiting bullish signals as it approaches a crucial resistance zone near $1. Analysts predict that once ADA decisively breaks above its current high, a "short squeeze" could occur. This phenomenon would force bearish traders to close their positions, leading to rapid and aggressive upward price movement. On the downside, a key support level to monitor is $0.76. The strategy for Cardano mirrors that of Ethereum: waiting for confirmation of a breakout.

Solana has demonstrated a textbook example of a breakout. SOL recently broke through a strong resistance level around $160, retraced to test that level as new support, and then bounced higher. This classic bullish pattern indicates that if Solana continues this behavior, further gains are likely.

Despite the upward trend in altcoins, experts warn of potential short-term "shakeouts." These are sudden drops, typically ranging from 15% to 40%, that can force out weak hands before prices continue to rise. Such drops often occur when market leverage increases and traders enter the market too quickly. While the long-term outlook remains bullish, sharp corrections are a possibility.

As Bitcoin's dominance begins to wane, the crypto market is experiencing significant movement in altcoins. Ethereum, Cardano, Solana, and other altcoins are breaking through key levels, signaling the early signs of a genuine altcoin season. Analysts suggest that the market could be entering a larger rally phase where altcoins surge, delivering substantial gains. However, investors should be prepared for potential volatility and short-term corrections as the market continues to evolve.