Ethereum Breaks Out of Month-Long Sideways Range

Ethereum has finally broken out of its month-long sideways trading range. The cryptocurrency's native asset, ETH, closed a daily candle above the key $2,530 resistance after spending almost a month hovering within this range.

While this breakout is an important development, it's not yet fully confirmed. Another daily candle needs to close and hold above this area for traders to feel confident about the continuation of the upward trend.

If Ethereum does manage to sustain its price above $2,530, the next major resistance level comes in at around $2,768.