Ethereum News Today: Ethereum Surges 40.29% to $3,606.9, Awaits Key Resistance Test

Ethereum has surged past the $3,500 mark, reaching $3,606.9 on July 19, 2025. This significant jump of over $1,050 in the current session marks a +40.29% gain over two weeks. The cryptocurrency is now testing a multi-year ascending support line on the 2-week chart, a critical level that has persisted since early 2020. This price action puts Ethereum on the verge of repeating historical behavior near critical ascending triangle formations.

However, traders are cautiously optimistic as they await the close of the current 2-week candle on Sunday evening. This close will determine whether Ethereum can hold above $3,600, a level that has acted as a technical battlefield and psychological resistance. If the price holds above the upper diagonal trendline, it could break a pattern that failed in three previous cycles, signaling a major technical reversal for the asset.

Historical data shows that Ethereum has shown multiple ascending triangle patterns with aggressive post-breakout reactions. However, in all previous breakouts, Ethereum eventually reversed direction after momentarily breaking resistance. This pattern has led to skepticism among traders, who remain alert despite the current bullish conditions. The community is eyeing the Sunday close to confirm the breakout, with many questioning whether this attempt will be different from the past failures.

The current bullish move is marked with a similar emoji, indicating hesitation to call it a confirmed breakout. Ethereum must prove itself this time by closing firmly above the resistance, unlike before. The price level near $3,600 to $3,700 now acts as a validation zone for breakout traders, and the weekly close holds the key to Ethereum’s next multi-month trajectory. Confirmation requires not just a wick above, but a full candle close past $3,600.