[Analysis] "Ethereum Breaks Through $2,700 After 4 Weeks… Signal for Altseason"

Suehyeon Lee

Summary

Ethereum surpassed $2,700 after 4 weeks, heightening investor optimism.
Swissblock analyzed that if Ethereum remains bullish for 72 hours, it could be a clear signal for the start of altseason.
If Ethereum breaks through the $2,650–$2,750 resistance range, it is expected that the price may further rise toward the $3,000 psychological barrier.

Ethereum (ETH) has surpassed the $2,700 mark for the first time in four weeks, raising expectations for the arrival of altseason.

On the 10th (local time), data analytics platform Swissblock told Cointelegraph, "Ethereum has broken through $2,700 for the first time in four weeks. Currently, Ethereum’s market position relative to Bitcoin is much stronger than in Q2, indicating the start of an altcoin season."

Swissblock added, "If Ethereum manages to maintain its bullish momentum for the next 72 hours, it could serve as a clear signal for the official onset of altseason."

Currently, Ethereum is attempting to break through the $2,650–$2,750 range, which has acted as strong resistance since last May. On this, Swissblock stated, "If this range is completely breached, Ethereum’s price could further rise toward the $3,000 psychological barrier."

ETH