Ethereum Bullish Momentum Strengthens with Eyes on $2,823 Breakout

Ethereum (ETH) is holding above a key support zone at $2,400 as bulls target a breakout through $2,600 and a potential move towards $2,823. The cryptocurrency has been recovering from recent lows and has reclaimed an important weekly resistance area around $2,300-$2,400.

The daily structure shows that former resistance is now acting as support, with the price breaking above a descending trendline from the previous decline. As long as this region remains defended, the breakout keeps $2,600 and then $2,823 in focus.

However, there are notable sell walls at $2,550 and $2,600, creating a clear supply cluster just above the current price. A decisive move through these zones would strengthen momentum and bring $2,700 into focus, with $2,823 emerging as the next major technical objective from the higher-timeframe structure.

A weekly close above roughly $2,400 would strengthen the recovery and keep the next higher-timeframe levels around $2,800 and $3,400 in play. The chart also suggests that holding this reclaimed region into the monthly close would provide stronger confirmation that ETH is moving into a broader recovery phase.