Ethereum exceeds the main prices – data indicates the level of $ 2900 as an upper operator
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Ethereum is in a critical turn where it approaches the level of $ 2700, which is widely seen as the next main resistance that the bulls must overcome to confirm the bullish preparation. This comes at a time when Bitcoin has collapsed from its highest level ever, prompting the encryption market to a new stage that can make great gains across Altcoins. For Ethereum, this moment can determine the next station of the recovery gathering.
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Since early May, ETH has increased by more than 55 %, fueled by renewable investor confidence, the strength of the wider market, and the increase in capital rotation from Bitcoin to the large altcoins. Feelings turn, and Ethereum’s ability to lead the charge is likely to affect the pace of Altseason.
Glassnode data highlights the improvement of the basics behind this step. In May, Ethereum regained the price of rights at 1900 dollars – as it benefited from the average pregnant woman in the profit after a long extension in the red color. The price also increased above the real market at $ 2,400, and is historically considered a reliable upward signal. However, there is still a clear break above 2700 dollars necessary to verify the correctness of this trend and attract more of the capital moved by the momentum. Whether ETH can provide this confirmation the speed with which the Altcoin market acquires traction in the wake of the Bitcoin outbreak.
Ethereum carries strong and builds altcoin momentum
Ethereum leads Altcoin fee as investors themselves put them when many expect to serve as a large gathering in the coming weeks. After months of fluctuations, it reaffirmed its strength by restoring the technical and technical levels. Since crossing over a sign of $ 2,200, the ETHEREUM price structure has bent decisively, which constitutes its lowest levels and uniformity around a critical resistance area near $ 2700.
The bulls remain firmly, and Etherum is seen again as the standard for the broader Altcoin feelings. In the market environment that is now determined by the last Bitcoin outbreak above the highest levels ever, the ETH is in a good position to take advantage of the capital rotation to the highly perfect altcoins. To verify the fully ups in the upper continuity, the ETHEREUM should be broken on the range of 2700 – 2900 dollars.
Glassnode Data on the series It adds another layer of bullish condemnation. In May, Ethereum erupted from its achieved price at $ 1900, which gave average profit, a milestone usually indicating the investor’s confidence. ETH also moved above the real market average at $ 2,400, a major historical scale that corresponds to the strong accumulation stages.
However, the final obstacle lies in the active, achieved price, currently near $ 2900. The restoration of this level will not only confirm the main structural collapse, but also indicates that the new buyers are holding strongly and that confidence has returned widely. Until then, ETH remains in a strong preparation, but the next few sessions will be decisive to confirm whether Altcoin market leader is ready to lead the next stage.
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ETH price is tested main resistance
ETHEREUM continues to click on top, as the price is currently uniformly about 2665 dollars after touching $ 2,734 for a short period. The ETH graph, which carries the clear upward trend since early May, shows with higher declines and a strong purchase that supports this step. All major moving averages turn to the top, with 34 EMA currently at $ 2,249 and 50 SMA at $ 1965 – much lower than the current price, enhancing the bullish structure.
The most urgent technical challenge lies in SMA for 200 days, which was placed at $ 2,703. This long -term indicator was a dynamic resistance in previous sessions and would be important to watch. The daily closure above this level can lead to an outbreak and confirm a wider upward continuation, and perhaps the door has opened towards the restoration of the area ranging from 2900 to 3000 dollars.
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The volume of size has increased slightly on modern green candles, indicating an increase in demand, but the 2700 dollar test can call for short -term profits. Support is seen about $ 2445 (100 SMA) and $ 2,080 (near the real market average), which is likely to serve as a pillow in the event of a decline.
Distinctive image from Dall-E, the tradingView graph
