Crypto analyst Rekt Capital suggests that Ethereum (ETH) is aiming to reclaim $2,500 as a support level, signaling a potential re-entry into the $2,500 to $4,000 trading range.
Re-establishing $2,500 as support could pave the way for ETH to move towards the upper end of the range over time, indicating a significant structural shift in Ethereum's price movement.
A successful reclaim of $2,500 may lead Ethereum to target the $4,000 zone, revisiting previous cycle highs and demonstrating strength in the altcoin sector amid market consolidation.
The outcome of Ethereum closing June will be crucial in determining if the breakout above $2,500 is sustained, with a failure potentially trapping ETH in a lower range between $1,600 and $2,200.