The Ethereum price today is hovering near $2,598, stabilizing after a powerful breakout that lifted it nearly 10% from its July 2 lows. This rally allowed ETH to reclaim critical support levels and challenge the upper bound of a multi-week consolidation range. All eyes now turn to whether bulls can sustain this move above the $2,600 mark, a level tied to both historical resistance and short-term momentum signals.

On the daily chart, ETH has reclaimed the June range high and is pushing into a supply zone just below $2,620. Price has cleared multiple CHoCHs (change of character) and broken past the prior equal highs near $2,560, hinting at a shift in structural sentiment. This marks Ethereum’s first clean breakout attempt in weeks, backed by increasing volume and liquidation data that favors bulls.

The 4-hour chart shows ETH has surged above the 20/50/100/200 EMA cluster (all between $2,472 and $2,506), flipping the short-term trend decisively bullish. Bollinger Bands have expanded sharply, with price now pushing along the upper band …

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