Ethereum is trading above the $2,500 level, showing strength despite recent volatility in the crypto market with ETH stuck in a consolidation range between $2,400 and $2,700.
Top analyst Carl Runefelt emphasizes the importance of a breakout above $2,700 for Ethereum to avoid remaining range-bound and move towards higher levels.
Altcoins, including Ethereum, have started to show signs of recovery, with ETH doubling in price since April, potentially leading a broader market uptrend.
Ethereum faces key resistance near $2,700-$2,800, with a breakout essential for further bullish momentum while failure could lead to a potential pullback, affecting the broader altcoin market.