Ethereum Breaks Out of Sideways Range, Holds Above $2,600

Ethereum (ETH) broke out of its months-long sideways range and held above $2,600 over the weekend. This move is being seen as a 'global trend reversal signal' by some investors who are tired of market uncertainty.

Crypto analyst Axel Kibar had previously anticipated this scenario in mid-August, predicting an interim target of $2,163. The September breakout helped confirm his view, but he cautioned that it's still too early to be reassured.

Kibar emphasized the importance of a 'domino effect' - a series of bullish moves following the initial breakout - for a multi-month base formation to be completed. If Ethereum can hold firmly above $2,550 without a deep pullback, this area could serve as a platform for further gains.