Ethereum is now trading above the $2,500 mark, reaching a fresh daily high of $2,609 as bullish momentum continues to build. After months of uncertainty and sideways action, sentiment has flipped strongly in favor of the bulls. The market-wide optimism is growing, fueled by Bitcoin’s breakout above $100K and renewed attention on altcoins, setting the stage for a potential altseason. Ethereum’s sharp recovery from its lows has caught the attention of top analysts. Among them, Ted Pillows shared a technical breakdown highlighting that the ETH reversal has officially started. According to Pillows, the steep correction below $1,400 earlier this year marked the final phase of capitulation. He points to a textbook Wyckoff accumulation structure during that period, suggesting the groundwork was laid for a sustained bullish breakout. This recent rally has not only broken through key resistance levels but has also confirmed a higher-high on the daily timeframe, which could serve as the catalyst for Ethereum’s next leg up . As the broader crypto market wakes up and capital rotation intensifies, ETH appears to be leading the charge, signaling that the long-awaited resurgence in altcoins may finally be underway. Ethereum Reversal Signals The Start Of A New Cycle Ethereum is finally showing real strength after months of bearish pressure. Since peaking in late December, ETH lost more than 66% of its value, dragging much of the altcoin market down with it. However, recent price action has flipped sentiment. Since early April, ETH has surged over 85%, pushing past several key resistance levels and reclaiming the $2,500 zone with momentum. This shift has sparked optimism among analysts and investors, with growing expectations of an altseason taking shape. For many, Ethereum’s breakout represents more than just a short-term relief rally. It’s being seen as the confirmation of a trend reversal. According to Pillows , the steep drop below $1,400 marked the final capitulation phase in Ethereum’s correction cycle. He notes that this phase aligned perfectly with Wyckoff accumulation principles — a classic structure that often precedes major uptrends. With the pattern now complete and ETH rallying sharply, Pillows argues that the reversal is underway. His outlook is clear: ETH could reach $4,000 by Q3 if current momentum holds. He sees Ethereum’s resurgence not just as a recovery, but as the foundation for a broader altcoin rally. With ETH historically leading altseasons, its strength could soon spill over into other undervalued assets. Ethereum Finds Resistance After Explosive Rally Ethereum has staged a remarkable recovery, rallying from April lows around $1,370 to a new local high of $2,609 in just over a month—a gain of nearly 90%. The chart shows a powerful breakout that sliced through previous resistance zones and brought ETH firmly above the $2,500 mark. However, price has now paused right below the 200-day SMA at $2,701 and the 200-day EMA at $2,431, two historically important resistance zones. Volume has surged alongside the price, signaling strong participation and conviction from buyers. But after touching $2,609, ETH has started to show signs of consolidation as the daily candle prints a minor retrace. This could indicate temporary exhaustion as bulls digest the recent gains. A brief pullback or sideways movement around this zone would be a healthy development before any attempt to break the $2,700 resistance. If Ethereum manages to reclaim the 200-day moving average cluster with strong volume, it could set the stage for a move toward $3,000. On the downside, holding above $2,400 will be key for maintaining the bullish momentum. With the macro sentiment improving and altcoins gaining strength, ETH remains a key asset to watch in the current cycle. Featured image from Dall-E, chart from TradingView
