Ethereum broke out with force, shattering resistance at $1,850, surged to a high of $2,490 in a matter of hours, marking an astounding 37% profit. After months of sideways price action and bearish sentiment, ETH reentered the spotlight with bullish momentum, fostering hope throughout the much-anticipated alto-season crypto market.
This breakout doesn’t just show how strong Ethereum is. It could be a spark to spark a wider rally among the altcoins. Many of them have been behind Bitcoin for over a year. As ETH now regains its key levels and outperforms its short-term performance, investors and traders are beginning to revert capital to high potential altcoins.
Crypto analyst Quinten Francois added excitement by sharing the charts on the X, revealing that the downward multi-year parabola of ETH/BTC is currently broken. This technology development suggests a reversal of Ethereum’s multi-year unperformance against Bitcoin. This is historically a powerful signal for arriving altcoin rally.
As ETH gains momentum and the ETH/BTC ratio begins to change, market sentiment is beginning to change resolutely and bullishly, not just for Ethereum, but for the entire Altcoin landscape. Breakouts may just be starting something bigger.
Ethereum breaks multiple supply levels and tests critical resistance
After an explosive rally that surpassed Ethereum at a high of $2,490 for $1,850, ETH is currently stable as the Bulls secured near $2,500. This level quickly becomes a critical demand zone, and its defenses over the weekend allow Ethereum to decide whether to continue its momentum or pull back for integration. With Bitcoin hovering at the highest ever, the spotlight has shifted to altcoins, and Ethereum is leading the fare.
For the first time in years, ETH appears to have formed a strong bullish structure after months of relentless sales pressure and bearish feelings. The recent price surge indicates a major shift in the tone of the market as both technology and fundamentals are beginning to align. In particular, François noted that the long-term downward parabola of ETH/BTC has finally broken since December 2021.
In addition to the bullish narrative, Ethereum’s upcoming Pectra updates aim to improve efficiency, optimize infrastructure staking, and streamline network upgrades. This development has renewed investors’ trust and positioned ETH as the forefront at the next market stage.
If Ethereum holds its position at the $2,500 level and Bitcoin continues to consolidate near the highs, the conditions are in place for Ethereum to begin a fresh bullish phase. Traders are closely watching how ETH works over the weekend. This is because strong strength could mark the beginning of a strong alternative season. With structural resistance breaking, macro-essential changes and radical upgrades underway, Ethereum may be ready to ultimately lead the market to the next leg.
ETH Price Breakout: Pressure Purchase Directions
Ethereum’s recent price action has marked a dramatic breakout, with ETH surgening from around $1,800 to a high of $2,352 over just a few sessions. This 4-hour chart highlights the strength of movement accompanied by an explosive increase in volume and a sudden bullish candle structure. That outweighs both the 200-day SMA and EMA, sitting near $1,716 and $1,821 respectively. These moving averages now serve as strong dynamic support zones.
The price is now just above $2,340, suggesting that the Bulls are holding profits and are trying to form the base beyond this psychological level. This pause will allow Ethereum to gain momentum towards around $2,500 towards its next range of resistance, consistent with previous local highs seen in early January.
Importantly, this breakout occurs after months of sideways and long downtrends. The steep slope of upward movement reflects a change in market structure as the bears are narrowed and momentum flows into the ETH. If the Bulls keep control and the price goes above $2,200 in the short term, the higher continuation could be higher. However, if prices fell below $2,200 in volume, they could retreat towards the $2,000-$2,100 range before reopening higher.
Dall-E special images, TradingView chart
