<ul><li>Ethereum has surged significantly, approaching a crucial resistance level at $2.6K, but faces strong resistance factors at this range, hinting at a likely consolidation before the next major move.</li><li>Technical analysis on the daily chart indicates that ETH is at a critical resistance zone near $2.6K, marked by the 200-day moving average and a previously broken ascending channel boundary, suggesting a potential corrective phase is needed for market stabilization.</li><li>On the 4-hour chart, Ethereum's buying momentum has pushed it through multiple resistance levels, aiming for all-time highs. However, a key supply zone at $2.6K may trigger a short-term pause or consolidation, more likely given the overbought RSI levels.</li><li>Onchain analysis reveals that Ethereum's recent surge seems driven by spot market demand rather than excessive leverage in futures markets, indicating a more stable and organic uptrend. Sustained bullish momentum hinges on a potential rise in funding rates to reflect increased confidence among futures traders.</li></ul>

Ethereum Price Analysis: Is ETH Due for a Correction After 42% Weekly Surge?

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