ETH's price continues to rise | Credit: Hameem Sarwar
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Key Takeaways
Ethereum has broken above $2,300 on bullish momentum, signaling an early uptrend.
Rising Open Interest supports further upside, but also increases the risk of volatility.
If ETH holds the setup, it could rally toward $3,000; a breakdown could return it to a bearish structure.
Finally, Ethereum’s (ETH) price has breached the $2,300 resistance. This comes after the cryptocurrency’s market value increased nearly 10% over the past 24 hours.
Amid this price increase, speculation has increased that the geopolitical unrest rocking the Middle East could soon end.
With that in place, what does it mean for ETH? Let’s find out.
At press time, Ethereum’s price is confined in an ascending channel since the February low, printing higher lows and gradually reclaiming structure.
Now, it’s pushing into the mid-range resistance around $2,300 while holding above both the 20 and 50 EMAs.
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But if the Ethereum price stalls around $2,400 while OI remains elevated, the setup shifts toward a flush.
Overall, this supports the earlier thesis. ETH is trending higher with an improving structure.
However, it’s entering a zone where profit-taking and leverage build-up can create volatility before the next leg.
ETH Price Analysis: Breakout Structure Takes Shape
From a technical perspective, ETH is reclaiming structure after completing a large distribution top on the daily chart.
At the time of writing, Ethereum’s price has moved back above the 0.236, marking the first meaningful shift from bear-market structure into an early recovery.
At the same time, the Relative Strength Index (RSI) and Money Flow Index (MFI) are both trending higher, showing improving momentum and capital inflows.
However, this is still early in the reversal. The 0.382 level ($2,756) is the next major resistance and likely the first real test of strength.
That level also aligns with the breakdown zone from the prior macro range, so sellers are likely to defend it.
If ETH sustains above $2,400, continuation toward $3,177 remains the base case.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
