Ethereum has surged 15% from Sunday's low, finding support near $2,100 amidst improving market sentiment following a ceasefire agreement between Israel and Iran.
Top analyst Mister Crypto suggests Ethereum is gearing up for a breakout above the $2,800 resistance level, backed by increasing on-chain activity and growing market confidence.
Ethereum's current price action near $2,450–$2,500 zone faces resistance from 50 and 100 SMAs, with a successful breakout potentially leading to retests of $2,700–$2,800 levels.
The next few sessions will be crucial for Ethereum's price action, with a strong focus on whether it can sustain above $2,400 to strengthen the bullish case or face a pullback towards $2,300 amid broader market uncertainty.