- Ethereum breaks above weekly EMA50 and eyes a move past $2,850, with bullish patterns pointing toward a potential $4,100 breakout.
- A golden cross and bottom fractal boost ETH’s outlook as rising volume and ascending triangle reinforce strong bullish momentum ahead.
- RSI and MACD support a reversal, but failure to clear $2,850 could trigger a retest of key support near $2,400 or $2,200 levels.
Ethereum has finally broken through its nine-week struggle with the EMA50 on the weekly chart, offering bulls a strong technical signal. The ETH closed last week at $2,610.66, up 1.57%, while pressing against the long-tested 200-week moving average. This area, ranging between $2,650 and $2,700, is a critical resistance zone that has repelled several breakout attempts since May. However, a confirmed move above it could open the door to upside.
Source: Doctor Profit
Doctor Profit, a seasoned crypto analyst, highlighted this recent breakthrough. He believes the breakout signals strength and encourages long-term holders to remain patient. Consequently, Ethereum now stands at a decisive point where higher targets may become realistic in the coming weeks.
Bullish Indicators Align with Market Momentum
CoinSeer, another analyst, pointed to a daily golden cross and a bottom fractal on the weekly chart as bullish confirmations. The golden cross—a condition where the short-term moving average crosses above the long-term one—often signals the beginning of a strong uptrend. Besides, the bottom fractal formation supports the view that Ethereum has established a solid floor around the $2,400 region.
Source: CoinSeer
Moreover, traders are closely watching the $2,850 level. A clean breakout above this could send ETH toward $4,100. The ascending triangle pattern forming near this resistance strengthens the bullish argument. Additionally, volume patterns show rising participation, especially during key moves, which reinforces the potential for sustained upward pressure.
Technical Setup Favors Bulls but Caution Remains
The RSI sits near 20.37, suggesting ETH recently hovered in oversold territory. Hence, analysts expect a strong bounce if upward pressure persists. Furthermore, the MACD histogram shows weakening bearish momentum, confirming a likely trend reversal.
Ethereum’s structure still carries bullish bias despite past corrections. Support has held firm, and ascending trend lines provide a base for future gains. However, failure to break above the $2,850 resistance could delay the rally, with support levels at $2,400 and $2,200 acting as fallback zones.
