Ethereum is trading above $2,500, reaching a daily high of $2,609 as bullish momentum builds amidst market optimism fueled by Bitcoin's breakout and altcoin attention.
Top analysts highlight a Wyckoff accumulation structure during Ethereum's correction, indicating a sustained bullish breakout and the start of a new cycle.
Ethereum's rally confirmed a higher-high on the daily timeframe, leading expectations of an altseason as ETH shows strength and potential trend reversal.
After an 90% rally from April lows to $2,609, Ethereum faces resistance at the 200-day SMA and EMA, with consolidation expected before a potential move towards $3,000 amid improving sentiment and altcoin strength.