Ethereum is about to break above $2,800 – bullish momentum is forming

Ethereum has made a strong comeback after several weeks of instability and decline. After a sharp drop below the long-term consolidation range, ETH found support near the $2,100 level and has since risen 15% from Sunday’s low. This move comes amid improved market sentiment following a ceasefire agreement between Israel and Iran that helped ease geopolitical tensions, while broader macroeconomic conditions continue to shift. The recent recovery has brought Ethereum back to a critical technical zone, where buyers are once again trying to regain control. After spending most of May and June in a sideways range, ETH is showing signs of new strength, fueling optimism that the next decisive move could be upward. Top analyst Mister Crypto has shared an optimistic technical outlook, emphasizing that Ethereum is preparing for a breakout. In his view, the current price structure and momentum suggest that ETH may be poised to challenge previous resistance levels and enter a new expansion phase. With on-chain activity beginning to rise and broader market confidence gradually returning, Ethereum may be positioning itself as a key altcoin to lead a potential price surge in the coming weeks. Ethereum Regains Strength Ethereum has risen more than 15% from Sunday’s low, recovering from significant losses caused by geopolitical tensions in the Middle East. The announcement of a ceasefire between Israel and Iran has created a wave of relief in the global markets, with ETH leading among major altcoins. After briefly losing important support levels, buyers are regaining momentum as Ethereum reclaims the price level last seen before the collapse. This recovery marks an important moment for ETH, as it tests the strength of the current market sentiment. While macroeconomic instability continues - due to increasing fears of an economic recession in the United States, rising bond yields, and a cautious Federal Reserve - Ethereum appears to be consolidating for a potential breakout. The cryptocurrency market in general remains under stress, with altcoins underperforming Bitcoin and many investors closely monitoring Ethereum as a potential catalyst for the long-awaited altcoin season. According to Mister Crypto, Ethereum is currently preparing to break above the resistance level of $2,800. This level represents a significant psychological and structural barrier, and a decisive move above it could reshape the trajectory of ETH for the remainder of the year.

The volume is returning, and on-chain data shows increasing confidence from long-term holders, signaling a potential shift in trend. If the bulls succeed in pushing ETH above this area, it could trigger renewed interest across the altcoin market and open the floodgates for new capital. As Ethereum flirts with this breakout level, its price action in the coming days is likely to set the tone for the next phase of the cryptocurrency cycle. ETH Check Resistance Level After Increasing 15% Ethereum is currently trading near $2,414 after a strong recovery from the $2,100 range, a level that was retested last Sunday amid rising geopolitical tensions. The 8-hour chart shows a clear V-shaped recovery, with buyers pushing the price above the SMA 200 ($2,326), regaining control in the short term. Volume spiked on the way up, confirming strong buying interest during the recovery.

However, ETH is currently facing a test near the $2,450–$2,500 range, where the 50 and 100 SMA converge. These moving averages, which are currently acting as resistance levels, have previously played a significant role in Ethereum's consolidation process in early June. A successful breakout in this range will open the door for a retest of the $2,700–$2,800 level, as top analysts like Mister Crypto suggest. Currently, the price action remains within a neutral consolidation range with a slight bullish bias. If Ethereum holds above the SMA 200 while building support at $2,400, the bullish case will strengthen. However, failing to break above $2,500 could trigger another pullback to the $2,300 level. The next few sessions will be crucial in determining whether ETH continues to attempt a breakout or enters another sideways consolidation phase amidst the overall market uncertainty.