Ethereum Surges Past $2.5K, But Spot Demand Remains Questionable

Ethereum has experienced a significant recovery from its mid-year lows and surpassed the key $2.5K level on Friday. The charts indicate an improvement in the broader market structure, but ETH remains below several important higher-timeframe resistance levels.

The daily chart shows that ETH has recovered from the $1.5K support area, pushing price back above both the 100-day and 200-day moving averages. The 100-day average is aggressively pushing toward the 200-day one, likely to form a bullish crossover around $2K.

A valid breakout above the $2.5K area could lead to continuation of the recovery, exposing the next major resistance around $3.0K and beyond that, the larger daily resistance zone sits around $3.3K-$3.4K.