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Ethereum again gains momentum after the designation of the level of 2739 USD and setting a modern local level, reaching prices that are not observable from the end of February. The rally is a mighty return of ETH, which was under significant pressure at the beginning of this year. Now the bulls seem to control strongly when the wider cryptographic market wakes up and capital flows return to Altcoins.
Analysts call for the potential Alts season, driven by the relative strength of Ethereum towards Bitcoins and the growing trust of investors. When Bitcoin consolidates near high levels, Ethereum took the opportunity to achieve better results, moving key levels of resistance with conviction.
By supporting this narrative, data from the Sentor (previously INTOTHEBLOCK) reveal that ETH worth $ 1.2 billion has been withdrawn from centralized exchanges in the last seven days. This indefinite net outflow trend suggests further accumulation and reduced pressure on the sales side, both mighty signals for long -term stubborn rush.
Along with heating the price and moving the mood of investors, Ethereum can prepare for a stern breakthrough. If the bulls maintain control, the 3000–3100 USD region can be tested in the coming days as another main resistance zone. All eyes are now on ETH because the Altcoin market shows signs of life.
Ethereum builds a momentum because signal accumulation flows
Ethereum trads above critical levels because the speculation of a indefinite rally is constantly growing. After weeks of sluggish move, Eth roared to life, gaining over 50% of the value from last week. This acute transition upside down, he will get the hopes of the Alts season, and many analysts perceive the breakthrough of Ethereum as a potential trigger for the wider power of the Altcoin market.
Ethereum now lasts well above 2600 USD, a level that has been energetic as a mighty resistance for months. This breakthrough, combined with the growth of the shoot against Bitcoin, suggests that bulls regain control. Traders carefully observe another main resistance zone from USD 2900 to USD 3100, which can be used as a key test for annulment of Ethereum.
Adding to the stubborn matter, Sentor data reveals that ETH worth $ 1.2 billion has been withdrawn from centralized exchanges in the last 7 days. This trend has intensified from the beginning of May, indicating increased accumulation of investors and reduced pressure on the sales side. Vast exchanges are often seen as a sign that owners intend to store ETH outside the object, reducing immediate supply and supporting the movement of price up.
Because market moods become stubborn, and Ethereum is accused of, all eyes are now based whether ETH can keep its momentum and bring the Altcoin market to a modern growth phase. If the accumulation trends persist and the bulls maintain key levels, the Ethereum path to USD 3100 can open the door to a wider market rally.
Details of the price: Key ETH testing levels
The weekly chart Ethereum shows a powerful breakthrough after weeks of the Bear’s pressure, and ETH is currently trading around USD 2,599.14. A recent enhance exceeded a price above 200-week-old EMA (USD 2259.65), as well as 200-week SMA (USD 2,451.55), two critical long-term trend indicators. The recovery of these levels was signaled by a stubborn rush and a mighty change in moods.
The Breakout candle itself has been one of the largest weekly green candles for over a year, reflecting the rapid influx of the buyer’s interest and potentially marking the key reverse point after months of fall. In particular, this movement leads ETH to levels that are not observable since February, with the local top week reaching USD 2,739.05.
The volume increased significantly during this movement, confirming the strength of the rally. However, Ethereum is now in the face of resistance over the head near USD 2800–2900, a zone that previously acted as support at the beginning of 2024 before the collapse. If the bulls retain and closes this week above USD 2,200, it can open the door to the resistance zone test of USD 3100.
On the other hand, the key support for viewing is around USD 2,350, leveled with 200-week SMA. Failure to comply with this level can invite $ 2,250 again. For now, the trend is stubborn, but the next one next week will be crucial.
Recommended photo from Dall-E, Tradingview chart
