Ethereum Bulls Are Closing In on a Major Breakout: Is This Resistance the Final Barrier?

The major rally that started in August and intensified in September has finally flipped ETH’s higher-timeframe structure bullish, and several analysts agree that only one major resistance remains in the asset’s way.

A decisive break above it could open the door to a much larger move toward $3,000 and beyond. $2.8K Still in Its Way The largest altcoin has now reclaimed the 200-day moving average and pushed into the $2,800 region last week, where it was finally stopped.

Daan Crypto Traders highlighted the change in its market structure, confirming that a weekly close above the 200 MA and EMA has solidified its bullish reversal.

However, he believes $2,800 is the major obstacle standing in front of ETH, and clearing it would leave relatively little high-timeframe resistance before the $3,000-$4,000 region comes back into play.