Ethereum Bulls Eye Breakout Through $2,600 Amid Strong Recovery
Ethereum has made significant progress in its recovery from recent lows, with its price holding above the crucial $2,400 support zone.
The bulls are now eyeing a breakout through $2,600 and a potential move towards the $2,823 target.
Crypto analyst Donald Dean notes that Ethereum's daily structure has changed, with former resistance turning into support. The price has broken above the descending trendline from the previous decline and is currently holding around the major volume area near $2,400-$2,450.
The immediate hurdle for Ethereum remains at $2,550-$2,600, where large sell orders create overhead supply. A decisive move through this zone would strengthen momentum and bring $2,700 into focus. Beyond that, $2,823 stands out as the next major technical objective from the higher-timeframe structure.