Ethereum continues to rise confidently, surpassing the $2,330 mark due to strong trading volume and short-term bullish trends. Let's delve into the recent price fluctuations and channel analyses.
Short-Term Trends Support Ongoing Rally
Since early May, Ethereum has shown steady growth, increasing by over $400 after rebounding from a critical support line. In recent days, the asset's price movement has been observed on Binance's 5-minute charts, showing consistent higher highs and lows. Trading volumes spiked sharply at critical resistance levels, indicating strong buying interest. Analyst Daan Crypto Trades noted that this upward trend coincides with repeated short squeezes, as traders using tight stops were forced out when Ethereum broke through the resistance level around $1,930.
Analysis of Ethereum's Multi-Year Channel
Analyst Titan of Crypto highlighted the multi-year ascending channel of Ethereum, which has been forming since mid-2020. The structure shows parallel trendlines that have defined support and resistance levels during various market cycles. The latest bounce from the lower channel boundary occurred in early May 2025 and has since driven prices upward. Ethereum respects this ascending channel, confirmed by its interactions with support and resistance levels that occurred in 2022 and 2025.
Opportunities and Risks in the Ethereum Market
According to analysts, Ethereum's current price near $2,340 remains within a structure that provides a long-term bullish trend. However, they also caution that any break of the ascending trendline could trigger sharp reversals. Overall symmetry in price action within the channel suggests increasing volatility with each cycle, making trading in current conditions potentially risky.
Ethereum demonstrates strong bullish trends with rising prices and significant trading volumes, but investments in cryptocurrency remain risky due to high volatility. Investors should closely monitor market conditions and analyze charts.
