Ethereum Price Prediction: What’s Next for ETH After Massive Rally From $1.9K to $2.5K?

Ethereum is consolidating after a sharp breakout from the $1.9K area, with ETH currently trading below $2.5K. The technical structure has improved considerably, while the continued decline in exchange reserves provides a supportive backdrop. However, ETH’s $2.5K resistance zone is a meaningful one, and a breakout or rejection from this level is key to determining whether the recovery can extend or the recent price surge was just a bull trap. Ethereum Price Analysis: The Daily Chart The daily chart shows a significant structural improvement over the past several weeks. ETH broke above the descending channel that had contained the price throughout the past few months, subsequently reclaiming the $1.9K region and then accelerating sharply higher. The breakout also pushed ETH through the $2.1K resistance zone before the asset surged toward the current $2.5K area. The move also brought ETH above both the 100-day (~$1.9K) and 200-day (~$2.05K) major moving averages. These moving averages are also now sloping upward, which suggests that the broader bearish structure is losing momentum and a structural bullish shift might be occurring. As already mentioned, ETH is now trading inside a resi...