Ethereum Surges 10% After Reclaiming Key Support Level

Ethereum recently experienced a sudden upward movement after briefly dipping below a key support level and its rising trendline. This unexpected rebound caught many off guard, sparking debate over whether it was a false alarm or the beginning of a new rally. The price momentarily fell below significant support and an ascending trendline, only to quickly reclaim both levels. This reversal disrupted bearish expectations, particularly for those who anticipated a deeper decline. Instead of confirming a breakdown, Ethereum surged back above the key zone with notable strength, altering short-term market sentiment.

According to the analysis, this kind of false breakdown often traps bearish traders and can fuel an upward move if momentum builds. The reclaim of the support zone is a strong technical signal, indicating that bulls are still in control. It not only invalidated the bearish thesis but also injected fresh optimism into the market, suggesting the possibility of a short-term rally. However, it was cautioned that follow-through is critical. If Ethereum can hold above this reclaimed area and form higher lows, it could set the stage for continued upside. Conversely, any weakness or failure to maintain the level could lead to another shakeout.

After reclaiming the previously lost support level, Ethereum is showing signs of strength, but whether it can sustain this momentum remains uncertain. The bounce has surprised many, especially after what looked like a clean break below a rising trendline and horizontal support. The current price action suggests bulls are regaining control, but the road ahead is lined with several resistance hurdles that could stall or reverse the advance. The first level to watch lies around the $2,858 level, where Ethereum previously struggled to maintain traction. This area marks a confluence of short-term resistance from prior price rejections. A decisive close above this could open the door for a push toward $3,360, a level that has historically acted as a pivot zone and may attract both profit-taking and fresh short positions.

Beyond that, the $3,659 level stands as a key psychological and technical barrier. This region is where bears have previously reasserted control, and reclaiming it would be a statement of intent from the bulls. Only a sustained break above this zone, ideally on strong volume, would signal a shift back toward a more dominant uptrend, potentially eyeing $4,100 and beyond. For now, the reclaimed support offers a solid base, but Ethereum’s upward journey depends on the bulls defending it convincingly and clearing these major resistance zones with strength and consistency.