Ethereum has surged over 8% following Donald Trump’s election victory, igniting fresh optimism among investors. Despite this rally, ETH still trades below a crucial resistance level, keeping the price in check since early August. 

This resistance, a critical barrier, must be cleared for Ethereum to regain its bullish momentum fully. Analysts are watching closely, with top crypto expert Inmortal sharing a recent technical analysis that suggests Ethereum could be gearing up for a significant breakout.

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According to Inmortal’s analysis, ETH appears to be building strength, and a push above this resistance could unlock the potential for a sustained rally. The market’s response to Trump’s win, particularly as he is seen as a pro-crypto candidate, has boosted sentiment, and many now anticipate increased volatility and upside for Ethereum. 

Investors are now eyeing ETH’s next moves, with any break above the current resistance likely to signal the beginning of a stronger upward trend. As Ethereum inches closer to this key level, market participants are preparing for what could be a defining moment in ETH’s performance this cycle.

Ethereum Pushing Key Supply 

Ethereum is pushing to break a critical resistance at $2,750, a level that has kept ETH under pressure since early August. This resistance has been a strong barrier; breaking above it is essential for confirming a sustained rally.

Top crypto analyst and investor Immortal recently shared a detailed technical analysis on X, where he outlined a $3,400 price target for ETH if it successfully clears this key resistance.

In his analysis, Inmortal emphasized that Ethereum, often dubbed the “most hated coin” in the current market, is worth paying close attention to despite its recent underperformance. Many investors have expressed frustration with ETH’s lagging momentum compared to other assets, making a breakout above $2,750 a potential game-changer for sentiment and price action.

The coming days will be pivotal as the market digests the impact of Donald Trump’s election victory and prepares for the Federal Reserve’s upcoming interest rate decision on Thursday. Trump’s win has already created bullish momentum across the crypto market, and Ethereum’s breakout could capitalize on this shift in sentiment. However, volatility may remain high, and any unexpected news from the Fed could impact ETH’s trajectory.

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If ETH can hold above $2,750 and continue pushing higher, the $3,400 target outlined by Inmortal could come within reach, marking a strong recovery phase for Ethereum. For now, the crypto community will be watching closely, as this breakout level can potentially define Ethereum’s performance in the months ahead.

ETH Technical Analysis 

Ethereum is trading at $2,620 after a solid 12% surge from recent lows at $2,355. This price movement has given bulls hope that a rally may be on the horizon. However, ETH must break above the key $2,750 resistance level for the bullish momentum to continue and reclaim price action. 

This level coincides with the 200-day exponential moving average (EMA), a crucial indicator of long-term strength. A breakout above this level and a successful retest would signal a market sentiment shift, confirming that ETH is on track to regain bullish control.

The 200-day EMA is often viewed as a significant support level once the price holds above it. If Ethereum manages to close above this level and maintain the price, it could spark further upside movement. On the other hand, if Ethereum fails to break above $2,750 and struggles to hold, it would signal a failed breakout. 

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In such a case, ETH could face further consolidation or retrace to lower demand levels, possibly around $2,500 or even lower. Bulls must remain vigilant as the coming days will be critical for confirming Ethereum’s next move.

Featured image from Dall-E, chart from TradingView

Ethereum (ETH) stands at a critical turning point, with opinions split on its future performance this cycle. Some analysts argue that ETH will continue to lag, possibly underperforming against other assets like Bitcoin, which has shown strong momentum.

However, others are optimistic, believing Ethereum is poised for an aggressive rally, especially if it can establish a solid bounce from current lows.

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Renowned crypto analyst Ali Martinez has shared a compelling technical analysis, highlighting a correlation between ETH and the S&P 500. According to Martinez, this relationship could signal a substantial upward move for Ethereum, aligning with broader market trends in traditional finance.

Martinez’s analysis suggests that Ethereum could be on track for a major breakout if the current setup holds, with a target around the $10,000 mark.

As Ethereum trades near a crucial support level, the coming days will be pivotal in determining its direction. With significant upside potential, if a bullish trend takes hold, this moment may define ETH’s trajectory for the remainder of the cycle. Investors are now watching closely, weighing ETH’s next moves against crypto and traditional market cues.

Is Ethereum Preparing To Rally?

Ethereum (ETH) has been trading precariously around the $2,400 level, with recent dips below this threshold sparking concern among investors hoping for a bullish breakout. This uncertainty has heightened as traders navigate a market riddled with fear, wondering if ETH is about to embark on a long-awaited rally or fall to new lows.

Top analyst and investor Ali Martinez has provided an optimistic outlook, sharing a technical analysis on X that suggests Ethereum’s price movements closely mirror those of the S&P 500. According to Martinez, this dip could be the final one before Ethereum experiences a massive upswing, potentially tripling in value to hit the ambitious $10,000 target. 

Martinez’s analysis taps into broader market sentiment, noting that ETH has shown resilience at key levels and that this correlation with the S&P 500 could indicate strength and stability shortly.

As the U.S. election results unfold and the Federal Reserve’s upcoming interest rate decision looms, the potential for volatility remains high. These factors could introduce sharp price swings, driving ETH lower temporarily before it rebounds and gains momentum for a sustained rally. 

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The combination of market catalysts and Martinez’s analysis has sparked cautious optimism, suggesting that while the near-term risk is high, Ethereum could be on the verge of a significant breakout if it holds its ground through the coming turbulence.

ETH Testing Crucial Demand 

Ethereum briefly dipped below the $2,400 mark, a key support level, before rebounding to $2,440. This bounce has given bulls hope, but to maintain upward momentum and challenge the prevailing bearish outlook, ETH must keep rising and target higher supply zones. 

Critical to this effort will be breaking above the 200-day exponential moving average (EMA) at $2,758—a level that has consistently pushed down price action and acted as a significant resistance since early August.

If bulls succeed in reclaiming this EMA, it could mark a shift in momentum, potentially setting up ETH for a stronger bullish trend. However, if ETH fails to hold above $2,400 in the coming days, it risks a deeper retracement. Analysts have identified the $2,220 level as a crucial line of defense. 

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This lower demand zone could provide the final support necessary to prevent further losses, but if breached, it would likely deepen the bearish sentiment surrounding Ethereum’s current price action. This week will be pivotal, as holding above these key levels could provide ETH with the stability it needs to stage a more aggressive push upwards.

Featured image from Dall-E, chart from TradingView