Ethereum climbs 5%, breaking past $2,550 amid rising confidence from institutional investors.

Ethereum has surged past the pivotal $2,550 resistance, displaying strong bullish momentum even as global economic concerns weigh heavily on markets. Traders are now closely watching the next major hurdle near $2,800, while demand zones below continue to provide solid support.

The cryptocurrency’s recent price action has formed a clear upward trajectory, marked by a series of higher lows and higher highs. Ethereum rebounded firmly from the $2,470–$2,495 support zone, underscoring investor confidence despite looming macro risks. However, on-chain data points to a dense cluster of investor cost bases near $2,800, signaling possible selling pressure at that level.

Technical Snapshot:

ETH demonstrated a sustained uptrend over the past 24 hours, characterized by steadily rising lows and highs.
Key resistance breakouts were supported by above-average volumes during late evening and early morning trading sessions.
A significant volume spike of 178,236 ETH coincided with the 24-hour peak price of $2,597 at 07:00.
Profit-taking was evident as prices retracted to $2,554, potentially setting the stage for sideways consolidation.
The final trading hour saw sharp volatility, with a 0.73% correction dropping ETH from $2,571.25 to $2,552.40.
Intense selling activity between 13:53 and 13:55 pushed prices down to $2,545.12, accompanied by volume surges exceeding ten times the average.
Short-term support formed near $2,548, aligning closely with the day’s broader support level of $2,550.

Despite persistent global uncertainties, Ethereum’s technical resilience and strong demand zones suggest a bullish outlook as investors eye the critical $2,800 resistance level.