Ethereum Price Breaks Above Key Resistance, Eyes $2,800

The Ethereum (ETH) price has broken above a key resistance level, and continued whale accumulation is fueling bullish sentiment among investors.

At the time of writing, ETH is trading at $1,870.05 with a 24-hour trading volume of $4.4 billion and a market capitalization of $225.54 billion.

The breakout above the descending trendline has been confirmed by crypto analyst Gerla, who views it as an encouraging sign of improving price structure and renewed investor confidence.

This previous level of resistance has now become a crucial support level, and as long as the ETH price remains above it, the overall bullish sentiment will continue to hold. This could enable Ethereum to move towards $2,800.