Ethereum has surged over 8% following Donald Trump’s election victory, reigniting optimism among investors. Despite this rally, ETH still trades below a crucial resistance level, tempering the price since early August.
This resistance is a critical barrier that must be cleared for Ethereum to regain its bullish momentum fully. Analysts are closely monitoring the situation, with top crypto expert Inmortal sharing a recent technical analysis suggesting Ethereum could be poised for a significant breakout.
According to Inmortal’s analysis, ETH appears to be building strength. A push above this resistance could unlock the potential for a sustained rally. The market’s reaction to Trump’s win, especially as he is perceived as a pro-crypto candidate, has boosted sentiment. Many now anticipate increased volatility and potential upside for Ethereum.
Investors are now closely watching ETH’s next moves. Any break above the current resistance is likely to signal the beginning of a stronger upward trend. As Ethereum inches closer to this key level, market participants are gearing up for what could be a defining moment in ETH’s performance this cycle.
Ethereum is striving to break a critical resistance at $2,750, a level that has kept ETH under pressure since early August. This resistance has been a formidable barrier, and breaking above it is essential to confirm a sustained rally. Top crypto analyst and investor Inmortal recently shared a detailed technical analysis on X, outlining 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 watching closely despite its recent underperformance. Many investors have expressed frustration with ETH’s lagging momentum compared to other assets. A breakout above $2,750 could be 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. Trump’s win has already created bullish momentum across the crypto market, and Ethereum’s potential breakout could capitalize on this shift in sentiment. However, high volatility may persist, and any unexpected news from the Fed could impact ETH’s trajectory.
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. The crypto community will be watching closely, as this breakout level could potentially define Ethereum’s performance in the coming months.
Ethereum is currently 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 its 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, along with a successful retest, would signal a shift in market sentiment, 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 its price, it could spark further upside movement. Conversely, if Ethereum fails to break above $2,750 and struggles to hold, it would signal a failed breakout.
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.
