The price of Ethereum ($ETH ) has seen a significant increase recently, with a rise of 3.89%, breaking through the $2700 mark overnight, ending an 11-week period of consolidation. This crucial breakout may indicate that Ethereum is about to achieve a major increase, potentially driving its price to a high of $3000. This price breakthrough indicates that buying power has successfully surpassed critical resistance levels, combined with large market players actively accumulating Ethereum, making the upward momentum particularly strong.

Does this Ethereum breakout signal an impending market rebound? Since early August, the price of Ethereum has been fluctuating between $2200 and a certain resistance level, forming a symmetrical triangle pattern. This pattern usually suggests that the market is accumulating energy in preparation for the next move. Now, with Ethereum's price breaking through the upper trend line, it seems that buyers have begun to gain an advantage.

As the trend of an 'October rally' spreads in the cryptocurrency market, Ethereum's price has risen from $2328 to $2700, an increase of nearly 17%. The price even touched the upper band of the Bollinger Bands, indicating a positive market outlook with buyers controlling the market. If this upward momentum can be sustained, then after the rebound, Ethereum's price is expected to reach $3375, which would mean a price increase of 26.5%.