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Ethereum Smashes Through Resistance – Bulls Charge as Higher High Confirms Rally

Ethereum Smashes Through Resistance – Bulls Charge as Higher High Confirms Rally

Author:
Newsbtc
Published:
2025-05-09 18:00:07
18
1

ETH just pulled off its most aggressive breakout in months, leaving traders scrambling to adjust positions. The key resistance level didn’t just crack—it vaporized.

Why this move matters: A confirmed higher high means institutional FOMO might finally be kicking in. Even the most cynical Wall Street quant would grudgingly admit this looks like more than just retail hype.

Next targets? If momentum holds, we’re staring down the barrel of a run toward all-time highs. Just don’t tell the SEC—they’re still trying to figure out how to classify last year’s memecoins.

Ethereum Forms Bullish Structure As Momentum Shifts

After months of relentless selling pressure and persistent bearish sentiment, Ethereum is finally showing signs of structural recovery. The market environment, long dominated by doubt and underperformance, is now shifting as ETH begins to establish a new, more bullish formation. This shift isn’t just about price—it’s being reinforced by meaningful developments on the fundamental side.

One of the most important catalysts is the upcoming Pectra update, a major improvement designed to make Ethereum more efficient, scalable, and cost-effective. The update focuses on enhancing the Ethereum VIRTUAL Machine (EVM) and optimizing smart contract performance, key changes that could significantly improve network usability and reduce transaction costs. This technical progress renews investor interest and builds a fresh narrative around Ethereum’s long-term potential.

The price action confirms the change in sentiment. Jelle highlights that Ethereum easily broke past the $2,000 resistance, as ETH surged more than 21% only yesterday, blasting through $2,200 and hitting a high NEAR $2,490. More importantly, ETH has made a higher high, signaling a trend reversal. According to Jelle, holding the $2,200 level is now key—if this support holds, “ETH could actually be back.”

Ethereum breaking critical resistance levels | Source: Jelle on X

Analysts are beginning to call for continued upside, pointing to the combination of washed-out bearish sentiment, fresh technical structure, and growing network Optimism driven by the Pectra upgrade. With ETH now breaking out and flipping resistance into support, the conditions are aligning for a potentially massive recovery phase. If momentum holds and the $2,200 level is respected, Ethereum could be entering the early stages of a powerful and sustained rally.

ETH Price Analysis: Bulls Take Over

Ethereum (ETH) is trading at $2,334 after a stunning rally that saw it surge more than 35% in less than 48 hours. The daily chart shows a massive breakout above the long-standing $2,000 resistance level, with price reaching as high as $2,490 before pulling back slightly. This breakout decisively ends months of downtrend structure and signals the formation of a new bullish leg.

ETH testing resistance after a massive breakout | Source: ETHUSDT chart on TradingView

This MOVE came with substantial volume, validating the breakout and showing clear market conviction. ETH also printed a higher high for the first time in months, confirming a shift in trend. However, the price is now approaching the 200-day EMA at $2,428 and remains below the 200-day SMA at $2,701—two levels that could serve as medium-term resistance.

If ETH can hold the $2,200–$2,250 zone as support, this breakout could turn into a full trend reversal. The recent volume spike suggests that both retail and institutional players are stepping back in, possibly driven by growing optimism around Ethereum’s upcoming Pectra upgrade and improving macro sentiment.

Overall, the chart shows strength and momentum. If bulls maintain control and reclaim the 200-day SMA in the coming sessions, ETH could be set for a sustained run toward higher levels.

Featured image from Dall-E, chart from TradingView

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