Ethereum (ETH) has surged above the $2,700 mark for the first time in over a week, leading to a positive outlook among crypto analysts. Many suggest it could soon break the next resistance level, targeting the $3,000 mark.
ETH's rally reached $2,722 before a slight retracement. Despite earlier struggles between $2,430-$2,650, the recent jump represents a 5.6% weekly increase, boosting market sentiment.
Analysts like CRG and Michaël van de Poppe have expressed cautious optimism, noting potential for a bullish trend if certain resistance levels are surpassed. The $2,800 mark is seen as critical for continued upward momentum.
The cryptocurrency's progress is viewed with skepticism by some, given its inconsistent performance this year despite positive developments like ETF approval.
ETH's near-term future remains unpredictable with potential for continued volatility, influenced by external factors like upcoming US presidential elections.
