Ethereum's Price Surges 22% as Bullish Trend Emerges

Ethereum's price action has recently shown signs of a market structure break, indicating a potential shift from bearish to bullish trends. According to a technical analyst, buyers have successfully initiated a market structure break just above the $1,500 zone, which was previously a critical support level. This break was preceded by a brief drop to $1,415, but aggressive buying during this dip neutralized the selling pressure and prevented a deeper decline.

The influx of buyer interest has led to a notable structural shift in market behavior. Ethereum's price has since found consistent support around the $1,500 region, leading to the formation of a market structure break. This technical formation often signals a transition from bearish to bullish price action. The price has been edging slowly upwards, now climbing towards the $1,900 resistance region, which aligns with the 50-week moving average and serves as a gateway to further upside.

Breaking and closing above the $1,900 level on the weekly timeframe could provide the necessary momentum for Ethereum to pursue higher targets. According to the analyst, if bulls manage to secure a break above $1,900, it could unlock a path to multiple upside levels, with $2,800 and $4,400 as realistic medium-term targets. A closer look at the daily chart reveals a significant fair value gap (FVG) between $1,900 and $2,800, coinciding with a cluster of exponential moving averages that have yet to be retested. Filling this FVG is considered a "must-have" condition for a smoother and more sustainable rally.

Considering the current momentum, Ethereum can easily close above the resistance at $1,900 on the daily timeframe. If sustained, this momentum should be sufficient to close above $1,900 on the weekly timeframe, fill the FVG, and surpass $2,800, which would then confirm the run to $4,000 on the weekly timeframe. Other price targets highlighted are at $2,300, $4,000, and $4,900. At the time of writing, Ethereum is trading at $1,830, showing a bullish trend that could potentially lead to a surge above $4,400 in the medium term.