Ethereum Price Pops Above $2,700 — Rally Gains Traction Once More

Ethereum (ETH) is showing strong momentum once again, outpacing Bitcoin and breaking through key resistance levels. After holding steady above the $2,550 mark, ETH surged past a descending trend line near $2,450, a critical technical breakout that set the stage for further gains. This upward move has strengthened the bullish outlook and supports a positive Ethereum price prediction in the short term.

Following this breakout, the Ethereum price pushed confidently above the $2,620 and $2,700 resistance zones. This move has sparked a renewed wave of optimism and strengthened the bullish outlook for ETH. Currently, the price is holding above $2,640 and the 100-hour Simple Moving Average, showing continued strength despite a minor correction from the recent $2,736 high.

Key Technical Signals

• ETH is comfortably above the ascending 20-day Simple Moving Average, which now sits above the 50-day SMA.

• Price action has entered and remains above the Ichimoku Cloud, further confirming the bullish trend.

The only immediate technical barrier is the 200-day SMA, which may serve as short-term resistance. However, given Ethereum’s current strength, this is seen more as a temporary hurdle rather than a long-term challenge.

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Elliott Wave Analysis Points to Further Gains

Analysts tracking Ethereum’s Elliott Wave pattern noted that a predicted move to $1,085 never materialized, suggesting the previous downtrend may have already ended. The failed fifth wave implies that the fourth wave likely completed earlier than expected.

Instead of declining further, Ethereum reversed direction, flipping the daily chart from bearish to bullish. This transition supports the view that ETH is now entering a new five-wave rally phase.

If current momentum holds, Ethereum’s price could rise to the $2,880–$2,950 range in the short term, and potentially above $6,000 in the coming months. For experienced crypto investors, the setup offers a favorable risk-to-reward scenario and a strong bullish Ethereum price prediction.