Ethereum Price Breaks Above $2,500, Eyes $2,800 Target Amid Bitcoin Correlation

Ethereum's price has broken above $2,500 and is now trading near $2,606.08, up around 6.8% in the last 24 hours.

The move follows a recovery from $2,433.27 and pushed ETH as high as $2,647.68. Analysts The Cryptomist and Ted Pillows are tracking separate technical structures supporting the latest advance.

The Cryptomist points to an ascending triangle breakout on Ethereum's four-hour chart, where ETH repeatedly faced resistance around $2,520-$2,530 before clearing the upper resistance and reaching roughly $2,623.

If the breakout holds, The Cryptomist expects Ethereum's price prediction to place $2,800 in focus. However, the analyst also links ETH's potential advance to Bitcoin's move, saying that Ethereum's upside will partly depend on how far Bitcoin extends its move.