• Ethereum holds $2,500 support; a breakout above $2,800 could target $3,400 resistance.
• The cup-and-handle pattern is targeting $4,000; Realized Price support remains firm at $1,900
• Glassnode shows ETH above $2,400 True Market Mean; $2,900 is key breakout confirmation.

Ethereum is gaining renewed investor focus as its recent recovery shows bullish technical developments. After breaking out from a descending trendline near $1,750, ETH has steadily climbed, consolidating around the $2,500 level. Despite facing rejection at the 200-day moving average near $2,700, Ethereum maintains a healthy bullish structure by holding above a key ascending trendline.

The $2,500 level is currently a support shield and $2,800 is a crucial break-out level. A clear break above $2,800 would push Ethereum into $3,400. Coinglass shows a long liquidations cluster down until $2,300, indicating probable volatility if $2,400 cannot hold during any possible correction.

Short-term metrics portend potential momentum stall. RSI cooled off from an overbought level, while a bearish crossover was recently created in the MACD. These signals hint at a potential dip before Ethereum attempts a major move, possibly shaking out weak hands and sweeping liquidity between $2,200 and $2,250.

A clear cup and handle pattern has formed on the 4-hour chart, which is an upside continuation pattern as per tradelith analysis. This pattern suggests a target for a possible breakout around $4,000. This view is confirmed by the daily chart, where ETH is trading in a historically major range and has good momentum and potential to get back into previous highs.

Reclaiming the range’s top EQ could take Ether towards its upper limit, solidifying bullish conviction. Meanwhile, Ethereum’s BTC pair is showing structural strength. Although further in-depth analysis is awaited, the pair’s trend is indicating a probable rotation into ETH, which tends to be a precursor for stronger across-the-board altcoin rallies.

Ethereum has retaken important on-chain and technical points, solidifying its position as top altcoin. Since passing $2,200, ETH has continuously made higher lows and remains well above its Realized Price at $1,900 a price that marks investor profitability and tends to lead stronger rallies throughout the overall crypto space.

ETH has just crossed above its True Market Mean at $2,400, following historical accumulation phases. Such conditions have historically been a signal for long-term bull runs. For Ethereum’s breakout to be fully solidified, though, it needs to retake the Active Realized Price, which now stands just under $2,900. 

Reclaiming this final on-chain resistance would assure recent buyers are firmly in profit and holding a crucial component of a sustainable rally. Until that happens, Ethereum is in a dominant technical position, and the next few sessions will be important in deciding if the prime altcoin will push the broader market to new highs.

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