Ethereum is now trading comfortably above the $2,000 level, with bulls pushing the price to a local high of $2,490 before finding resistance. After months of heavy selling pressure and weak sentiment, Ethereum appears to be forming a new structure as it reclaims critical ground. The sharp rally has reignited optimism in the altcoin market, especially as Bitcoin consolidates near its all-time highs. This weekend could be pivotal — volatility may accelerate across the crypto space, with Ethereum likely to lead the way if bullish momentum continues.
Top analyst Ted Pillows shared an optimistic outlook, stating that the recent rally is only the beginning. According to Pillows, Ethereum is on track to break above $12,000 in 2025, driven by strong fundamentals, expanding institutional interest, and improved network efficiency. His conviction stems from Ethereum’s leadership in DeFi, real-world asset tokenization, and stablecoin infrastructure — areas he believes will fuel long-term adoption.
Ethereum is now consolidating below the $2,400 level after a sharp breakout that saw it gain more than 35% in under two days. The price surge has reinvigorated bullish sentiment across the market, pushing ETH into a key demand zone where buyers continue to defend support. After months of downside pressure and bearish structure, Ethereum is showing signs of forming a new, sustainable trend. Analysts say this breakout could be the spark for a much broader altcoin rally, with many tokens still heavily undervalued after years of decline.
Ethereum has become the top destination for institutional capital among altcoins, particularly in sectors like real-world assets, decentralized finance, and stablecoins. In addition, expectations are growing around the approval of Ethereum ETF products that allow staking, which would further reduce supply and increase demand.
The recent Pectra Upgrade has already started burning significant amounts of ETH, tightening supply at a time when demand is picking up. Pillows also points to macro tailwinds—particularly a potential shift in monetary policy from the Federal Reserve and other central banks later this year. If the global environment turns risk-on, Ethereum could be one of the biggest beneficiaries. For now, the price structure remains strong, and as bulls defend support, optimism builds that ETH is preparing for a much larger move.
The Ethereum daily chart shows a powerful breakout from consolidation, with ETH surging past the $2,000 psychological barrier and tagging a local high near $2,490. This move marks one of the sharpest two-day rallies in recent months, driven by renewed market confidence and strong momentum across the crypto sector. The daily volume spike supports the move, indicating real buying interest rather than a short-lived squeeze.
However, ETH has now paused below the 200-day exponential moving average (EMA), currently around $2,427, and just under the 200-day simple moving average (SMA) at $2,699. These two levels present the first significant resistance zones that bulls must overcome to sustain the breakout and confirm a new trend structure. For now, Ethereum is holding above prior resistance at $2,200–$2,250, turning it into support.
If ETH can consolidate above this new base and maintain a bullish structure, the next target would likely be the $2,700–$2,900 range, which also aligns with the moving averages. Failing to hold this level could trigger a retest of the $2,000 breakout zone. Overall, price action remains bullish, but Ethereum must defend recent gains and flip key moving averages to extend the rally into a full recovery trend.
Featured image from Dall-E, chart from TradingView
