According to CryptoPotato, Ethereum has shown significant upward momentum recently and successfully broke through the key multi-year resistance zone at the psychological $2,900 level, reflecting the optimism and buyer confidence of market participants. The daily chart shows a major shift in market sentiment, with Ethereum price approaching the year’s major swing high of $3,600. However, it is worth noting that a widening bearish divergence has emerged between the price and the RSI indicator, suggesting a possible pullback or consolidation phase in the short to medium term. 4-hour chart analysis shows that the price has made a clear reversal near the multi-month uptrend line, supported by heavy buying. For now, Ethereum price is expected to maintain a bullish trend, but may experience intermittent downward corrections. Separately, on-chain analysis shows that Ethereum price has steadily climbed above $2,800 since the important support level of $1,500, and sentiment analysis of the futures market shows that the open interest indicator shows a significant upward trend across all exchanges, indicating that futures Traders’ confidence in Ethereum’s current upward trend continues to grow.