Ethereum (ETH) has successfully reclaimed the $2,500 support level, marking an 8.6% growth over a week. This positive movement sets the stage for Ethereum to challenge the next crucial resistance level at $2,700.
Analysts are optimistic that if Ethereum breaks above the $2,700 mark, it could further rise to $3,500, indicating bullish potential in Ethereum's market performance.
The ETH/BTC chart showcases that altcoins, including Ethereum, are currently cheap in comparison to Bitcoin, suggesting a possible undervaluation in the market.
Ethereum is primarily attempting to break out of a significant 3-month symmetrical triangle pattern, a move that could set a new momentum in its price trajectory.
