Ethereum Confronts Key Resistance at $2,800 Amid Bullish Sentiment

Ethereum is currently trading near $2,683 and faces a crucial test at the $2,800 resistance level.

The price action is being closely monitored by analysts, who point out that this area has been a recurring theme over the past few years.

Daan Crypto Trades notes that Ethereum is currently stuck between its weekly 200 moving averages and the $2,800 horizontal resistance level.

Gerla, another analyst, believes that breaking above the $2,650-$2,900 price range could open up a new upside range for Ethereum, potentially reaching as high as $4,800-$5,200.