Ethereum Surges Past $2,500 Amid Strong Technical Signals and Heavy Short Liquidations

Ethereum's price has broken above $2,500 and surged to nearly $2,650 before pulling back to around $2,600.

The move follows a recovery from a low of $2,433.27, with analysts The Cryptomist and Ted Pillows pointing out separate technical structures supporting the latest advance.

The Cryptomist notes an ascending triangle breakout on Ethereum's four-hour chart, with the analyst expecting ETH to potentially reach $2,800 if the breakout holds.