Ethereum Price Surges 10% to $2,600, Bullish Momentum Builds

Ethereum has recently shown signs of gaining momentum, with its price pushing above the critical $2,600 level after weeks of range-bound trading. This move marks a potential turning point in its price structure, as the cryptocurrency has been steadily rebuilding its strength. The price is currently hovering above $2,600, with key technical signals indicating early bullish signs. This has traders speculating about a potential major breakout, with the next resistance level at $3,000.

The daily chart shows Ethereum trading around $2,620–$2,623 with a steady upward bias. The Heikin Ashi candles indicate a period of consolidation above $2,500, forming a tight range with slightly higher lows. This suggests that buyers are slowly regaining control. The Relative Strength Index (RSI) sits at 59.9, just below the crucial 60 mark that often precedes a stronger push. This indicates that Ethereum is not overbought yet and there is room for continuation. The RSI is also comfortably above its moving average, showing that upward momentum is building again.

The chart highlights Fibonacci extension levels, which show clear upside targets. The visible Fibonacci grid suggests a key short-term resistance near $2,750–$2,800, with the next levels around $3,000 and $3,200. Given the previous bounce from the May lows, the rally leg was about $2,000 to $2,900 — a move of $900. If we take the recent low near $2,400 and add a similar swing, a measured move target comes to $3,300. This aligns well with the Fibonacci cluster above $3,200, suggesting that if Ethereum price breaks above $2,750 with volume, a move towards $3,200–$3,300 is technically realistic.

On the downside, the chart shows Ethereum price has repeatedly defended the $2,400–$2,500 region, forming a solid base. Multiple tests without breakdown imply that whales are likely accumulating below $2,500. As long as Ethereum price stays above this floor, the short-term risk remains limited. If the price dips back to this zone, it may act as a springboard for bulls to push higher again.

The RSI reading near 60 is promising. Typically, for Ethereum price, when the RSI crosses 60 on the daily, it signals the start of a momentum phase that can last a few weeks. For example, the big rally earlier this year started when RSI went from 45 to 65, and the price surged nearly 40%. Using a similar percentage, a 40% move from the recent swing low ($2,400) could target $3,360. Again, this matches the measured move and the upper Fibonacci zone.

Based on the price structure, support zone, and RSI momentum, Ethereum price looks ready to test $2,750–$2,800 soon. If bulls manage to break and close above $2,800 on strong daily volume, the next logical leg is toward $3,200–$3,300. If the market stalls or Bitcoin pulls back, Ethereum price could retest $2,500–$2,550 as support. But unless that level is lost with heavy selling, the bias stays bullish.

Ethereum price daily chart shows it is quietly building strength for a fresh breakout. With RSI momentum intact, a strong support base, and clear Fibonacci targets, traders should watch the $2,750–$2,800 level closely. A breakout above that could unlock the path to $3,200–$3,300 in the coming weeks — giving bulls nearly a 20–25% upside from current levels. For now, the trend remains constructive — but always keep an eye on Bitcoin for confirmation. If BTC stays stable, Ethereum price next move could surprise on the upside.

Ethereum bulls are once again targeting the $2,700 milestone, rekindling optimism among altcoin supporters. This comes after a protracted phase of unnecessary declines in the ETHBTC pairing, continuing over 1,000 days. Swissblock’s recent analysis suggests this rally diverges from past surges. In May, Ethereum experienced a similar resurgence, marking a significant altcoin rally not seen since early April. This was buoyed by a rise in meme coins which were taken as encouraging signs of renewed risk appetite. It coincided with Bitcoin maintaining notable strength during the period.

“Inflow metrics indicate stronger interest in Ethereum; discussions around its ecosystem are intensifying, even as Bitcoin’s dominance appears to wane. This pattern, if sustained, would herald a potent altcoin phase over the next few days.”

Should Ethereum’s rally continue, analysts may be recognized for accurately predicting a new altcoin market cycle, although recent misguided projections have fostered skepticism. Another analyst, Anbessa, highlights a symmetrical triangle forming for Bitcoin. Maintaining positions above $107,500 is critical to thwart a breakdown; a rise past $115,000 could open paths to new highs. Currently, Bitcoin trades near $109,200.

Cryptocurrency dynamics continue to shift as Ethereum mounts what could be a transformative ascent. Would this mark the start of a new era for altcoins, or will caution persist amidst conflicting forecasts? The market waits in anticipation.