Ethereum Surges Past $2500 Resistance Level

Ethereum's price has surged by 4.1% in the past 24 hours, reaching $2,508.45. This marks a significant milestone for the altcoin, which has struggled to reclaim above the resistance level of $2500 since February 2026.

The Relative Strength Index (RSI) reached the overbought territory but is now slowly coming down to the 60-70 RSI range, indicating strong bullish momentum. This suggests that Ethereum holders are sitting on an unrealized profit, a trend that has been observed in recent days.

The Market Value to Realized Value (MVRV) ratio has also turned positive, with Ethereum's MVRV moving above 1.00 for the first time in 200 consecutive days. This indicates that Ethereum holders are now sitting on an unrealized profit, which could potentially fuel further price growth.

However, bearish momentum still exists, as a large whale has sold its entire 167,855 ETH position worth around $408 million over a period of five days. Additionally, the Coldcard-linked hacker is swapping stolen Bitcoin for Ether through THORChain, which could add selling pressure on the altcoin's price action.