• After remaining in decline, ETH now shows signs of rising and pushing toward new all-time highs.
• Now that the price is around $2,600 and $2,800 is the resistance, experts keep an eye on the market for signs that the price might reach $4,000.
• Stronger participation in the market is clear, as trading volume rose by 68% in just 24 hours.
  

Ethereum (ETH) is showing new signs of strength as the second-largest cryptocurrency by market capitalization continues its relentless upward trend. After breaking out from a multi-month descending channel earlier this month, ETH has continued to trade above key resistance levels, a sign of sustained buying pressure. The asset is currently trading for around $2,651, a 4.69% gain in the past 24 hours. Analysts say that if the trend continues, Ethereum could be set to test the $4,000 level over the coming weeks.

Technical Breakout Signals Shift in Trend

A major event occurred this month when Ethereum moved out of a downward channel that lasted from early February until April. After forming between downward trendlines, ETH climbed over $1,865, leading to a significant increase. This breakout was accompanied by high-volume candles, confirming the strength of the move.

The shift in sentiment has remained intact since then, with the current support area forming near $2,600. Traders have noted that a clean hold above this level would be crucial in establishing a foundation for further gains. A resistance level near $2,800 may present the next hurdle, but if breached, ETH could target the psychological $4,000 mark next.

Ethereum Gains Momentum with Surging Volume

CoinMarketCap data also shows that Ethereum is pointing toward a positive trend. Over a 24-hour period, the trading volume for this asset grew by 68% to $38.3 billion, showing lots of investor engagement. Lately, Ethereum’s market capitalization has reached $319.31 billion, proving its strong importance in crypto markets.

The increase in volume relative to market cap—currently at 11.88%—indicates healthy liquidity and engagement. With over 120.72 million ETH in circulation, current price levels reflect both investor confidence and broader market alignment.

Ethereum Eyes $4,000 Amid Cautious Optimism

While some analysts warn of potential resistance near $2,800, the general outlook remains cautiously optimistic. Price structure, breakout volume, and consistent closes above prior resistance all point to a continuation of the uptrend, provided no macroeconomic shocks disrupt sentiment. If current momentum holds, Ethereum’s next major test could occur at the $4,000 level—a milestone not reached since late 2021.

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