The Daily Chart of Ethereum Shows Strength Amidst Unstable Market Conditions

Ethereum continues to prove its strength, holding steady on key support levels and outperforming many crypto markets despite increasing macroeconomic instability. Since the lows in April, ETH has doubled in value, rising over 100% and showing no signs of slowing down. While many assets face strong selling pressure amid global market volatility, Ethereum remains resilient, showing sustained buying interest and maintaining its upward trajectory. Top analyst Carl Runefelt shares an optimistic view, noting that the price of Ethereum remains strong on the daily timeframe. According to Runefelt, if Bitcoin starts to go sideways, Ethereum could seize the opportunity to break out of the current consolidation triangle and lead the next phase of the crypto market rally. His analysis highlights the unique position that ETH holds at this moment—not only as the second-largest cryptocurrency but also as a potential driver of the next altcoin season. With ETH holding above the support level of $2,600 and approaching key resistance areas, market participants are closely monitoring. A decisive breakthrough could trigger widespread momentum across altcoins and mark the beginning of a new phase in the current bullish cycle. The performance of Ethereum continues to reinforce its role as the foundation of the broader digital asset space. Ethereum is at a critical range: Breakthrough Bulls Eye Ethereum is currently trading within a tight consolidation range that many investors view as a foundation for its next major move. After a significant price rally that saw ETH rise over 100% since April, the asset is now testing key resistance levels, particularly around the $2,650–$2,700 range. Despite recent macroeconomic tensions, including rising U.S. Treasury yields and persistent geopolitical risks, Ethereum continues to demonstrate strength, with buyers maintaining positions above key support levels. Runefelt recently emphasized that Ethereum "refuses to sell off on the daily time frame", a signal indicating potential bullish recovery. His analysis shows that if Bitcoin begins to move sideways, Ethereum could break out of the consolidation triangle to the upside, potentially igniting the long-awaited start of an alt season.

From a technical perspective, the consolidation appears to be constructive. The price has formed higher lows since April and remains above all major moving averages on key timeframes. The $2,300 level is emerging as a solid base, while the bullish target is at $3,100 if the resistance is cleared. Runefelt's bullish and bearish scenarios—$3,100 on the upside and $2,300 on the downside—underscore the importance of the current range. As trading volume narrows and volatility increases, Ethereum appears to be poised for a decisive move. If a breakout occurs, it could not only propel ETH to new highs in the cycle but also reignite broader confidence across the altcoin market. ETH price analysis - Daily chart overview Ethereum (ETH) is currently trading at $2,616, fluctuating just below the 200-day simple moving average (SMA), at around $2,679. This level has acted as a consistent resistance area over the past few weeks, with ETH not decisively closing above it. Despite some intraday moves above $2,650, the price has not yet confirmed the breakout.

Looking at the broader structure, ETH remains in a consolidation range between $2,480 and $2,700 after recording an impressive gain from an April low of nearly $1,800. The 34-day EMA ($2.406) and the short-term SMA cluster are trending upwards, indicating that the medium-term momentum is still in favor of the buyers. The volume is relatively stable but not significant, indicating a lack of strong confidence from both sides. A clean daily close above $2,700 could confirm the breakout and potentially open the door for a move towards $3,000. On the negative side, if ETH does not hold the support level of $2,480, we may see a pullback to retest the 100-day SMA near $2,065.