Ethereum, the cryptocurrency, has recently surpassed the $2,600 mark and is now targeting the unfilled CME gap between $2,820 and $3,230.
Daily Breakout and Unfilled CME Gap
Ethereum price action has broken above long-standing consolidation, entering a bullish trajectory on the daily chart. The recent move began after weeks of accumulation between $1,600 and $2,000 in April. The price surged past $2,000 in early May, confirming a structural shift. As price reclaims resistance near $2,600, the CME futures gap between $2,820 and $3,230 has become the focal target.
Weekly Structure Confirms Breakout Foundation
Ethereum’s weekly timeframe reveals broader support and resistance dynamics driving the current uptrend. The $2,200–$2,468 zone has acted as both resistance and support in previous cycles. ETH has now reclaimed and confirmed this level with a full-bodied bullish candle. Rekt Capital noted that ETH completed a double-bottom structure from late 2024 through early 2025.
Outlook and Projections for Ethereum
The current trajectory mirrors Ethereum's earlier movement from Q1 2024, with the breakout from $2,200 leading to a run toward $3,900. With the double-bottom completed and structural levels retested, Ethereum enters a higher timeframe expansion zone.
These developments highlight the importance of the $2,600 level as a potential springboard for further upside as Ethereum moves towards higher targets.
