Ethereum Consolidation Ends as Bulls Eye $2.8K Breakout

Key Summary

Ethereum is consolidating around the $2.68K-$2.77K resistance zone, with buyers preserving a broader upward structure despite persistent selling pressure. The daily close above $2.77K and a break of the recent high around $2.8K could pave the way toward the $2.9K-$3K resistance zone. Conversely, a loss of the consolidation lows around $2.64K would increase the likelihood of a deeper correction. The 4-hour chart shows Ethereum trading within an ascending channel, with the immediate obstacle remaining the $2.68K-$2.77K supply zone. A sustained breakout above $2.77K and below the channel midpoint could bring the upper channel boundary into focus, while a decline below the midpoint and recent lows could expose the $2.63K and $2.58K support areas.