In the cryptocurrency market, the recent price surge of Bitcoin ($BTC ) has attracted a lot of attention, while the potential rebound of Ethereum ($ETH ) has also attracted considerable attention from market analysts and investors. While there are concerns that ETH may not perform as well as expected in the current market cycle, Ethereum’s recent price dynamics have shown some positive signs that may indicate an upcoming price breakout.

Ethereum is currently in a bullish pattern, and if it can break out of it, it could see significant gains in the coming weeks. As Bitcoin performs strongly and market momentum builds, ETH may follow suit, opening up new profit opportunities and possibly marking the beginning of an altcoin rally.

Investors are closely watching whether Ethereum can break out of its current consolidation and start rising higher. Ethereum remains one of the most talked-about assets on the market, and whether it can break out and rise higher will be crucial to market sentiment.

Analyst Runefelt pointed out that the formation of an ascending triangle is usually a bullish signal. If Ethereum can successfully break out of this pattern, a rapid surge to $2,870 could be within reach. This price level is a key target for Ethereum and not only signals strong upward momentum, but also indicates that altcoins are catching up to Bitcoin’s recent performance.

However, if Ethereum fails to break above current resistance levels, it may continue to trade sideways. In this case, Ethereum could be stuck in consolidation for an extended period of time, which could be a setback for investors anticipating a rebound.

Despite these risks, market conditions appear to be favorable for a potential breakout for Ethereum. Analysts are paying close attention, predicting that Ethereum’s rising moment may be coming, bringing new upward momentum to the market. For bulls to regain momentum, Ethereum needs to break above current price and reclaim the 200-day exponential moving average (EMA) at $2,800. This important level would signal that ETH is back on track for further gains, potentially matching Bitcoin’s recent gains.

However, if Ethereum fails to break above this key resistance level and reclaim the 200-day EMA, it may enter a sideways consolidation phase.