Ethereum displays strength on the daily timeframe, holding above key support and maintaining a higher-low structure.
Technical indicators favor bulls with RSI at 55.73 and MACD in positive territory, indicating growing upward momentum.
Analysts predict a potential breakout above $2,720, leading to a rally towards $3,150 and even $4,000 if a cup and handle formation on the 3-day chart confirms.
However, a failure to break $2,720 could result in a loss of bullish momentum, potentially sending Ethereum down to retest support near $2,100 to $2,000 zone.