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Ethereum About to Explode? Holding the $2,750 Mark – Last Opportunity Before Surpassing $3,000
Ethereum has finally surpassed the long-awaited $2,800 mark, signaling new strength and triggering a wave of optimism across the market. However, the breakout faced significant volatility, as the price quickly returned to the previous resistance zone. Despite the rejection, ETH continues to trade near the top of its range and analysts remain optimistic about the outlook for altcoin in general. With Bitcoin stabilizing near its all-time high and ETH trying to regain momentum, many are calling for the start of a new altcoin season. The performance of Ethereum is seen as an important signal for the broader altcoin market — and currently, the structure remains intact. Speculators are following closely to see if ETH can bounce back and retest the breakout zone with strength. The top analyst M-log1 has shared a technical update, noting that ETH is currently at a key support level. He emphasized the importance of a clean recovery and a breakout from the current upward channel. Although M-log1 has not called for a crash, he highlighted the need for caution and patience as price movements unfold. Currently, Ethereum is holding the support level, but the next move will be very important. Ethereum leads with strength but the volatility keeps the market in a constant state of tension. Ethereum is currently leading the cryptocurrency market, showing relative strength by holding above the important price level despite the backdrop of global volatility and uncertainty. Trading above $2,750, ETH has become the focal point for investors who view it as a leading indicator for a potential altcoin rally. However, recent price fluctuations have created a wave of caution as traders weigh the risks of a pullback against the promise of a breakout. The headwinds of macroeconomic conditions remain an important factor. Global tensions, rising U.S. Treasury yields, and uncertain trade negotiations between the U.S. and major economies continue to drive investor sentiment. These external pressures have sustained high volatility and relatively fragile market confidence, even as Ethereum maintains its structure above support levels. M-log1 has shared a technical incident, noting that ETH is currently at a critical support zone near $2,750. According to him, Ethereum "needs to bounce back and break out of the current upward channel" to reignite bullish momentum. If that does not succeed, the structure could tilt towards bearish, with the possibility of returning to lower levels of the channel. He added that although he remains optimistic, the potential for rapid changes in this environment and the next few sessions will be very important.
However, the relative strength of Ethereum amidst the macro noise shows underlying confidence. If ETH can reclaim the zone of $2,800–$2,830 and flip it to support, it could pave the way for a rally to $3,000 and set the tone for the altcoin season. Until then, price action remains compressed and the market is closely following as Ethereum oscillates at the technical pivot point and sentiment. Ethereum holds an important level as the price tests a key moving average. Ethereum is trading at $2,753 on the 3-day chart, showing strength after surpassing the 200-day simple moving average at $2,768.62. While ETH briefly reached a high of $2,785, the current candle reflects a slight pullback from that level. This rejection is not yet a bearish signal, but it marks the range of $2,770–$2,785 as a short-term resistance zone.
ETH remains in a good technical position, staying above the 50-day SMA ($2,325), 100-day ($2,647), and 200-day ($2,768) — all important levels that have guided mid to long-term price direction. The strong rally from the April lows around $1,500 to the current level has reset the trend in favor of Ethereum, but currently, a clear breakthrough above $2,800 is needed to confirm continuation. The volume remains stable, with no signs of major distribution. A strong close above the 200 SMA on this 3-day candle could serve as a bullish confirmation and set the stage for a price increase towards the $3,000 mark. On the negative side, if ETH cannot hold the $2,700 level, the likelihood of a retest of the 2,600–2,650 zone is very high.