Ethereum has climbed back above $2,500 after a dip to $2,440 in the last 24 hours, following a pullback from a recent high of $2,770 over the past week.
Crypto analyst KlejdiCuni anticipates a bullish trend reversal, highlighting $2,440 as a strong accumulation zone, signaling a potential breakout is on the horizon.
KlejdiCuni identified a bullish pattern in Ethereum's price chart, resembling an ascending channel structure, indicating buyer control in Ethereum's price action.
Ethereum's rebound to $2,660 suggests a breakout towards $2,800, the immediate target aligned with the upper resistance boundary of the bullish pattern.
If Ethereum breaks $2,800, it could start a bullish trend with $3,300 as the first major target, followed by $3,800, and a longer-term target of $4,500 near the all-time high.
At the time of writing, Ethereum is priced at $2,521, showing a 0.7% retracement in the last 24 hours.