Ethereum (ETH) Prepares For A Breakout As Altcoins Enter The Spotlight

Ethereum is gaining momentum as optimism returns to the crypto market. With Bitcoin officially entering price discovery and surging past its all-time highs

In the ever-shifting landscape of cryptocurrency, attention has largely focused on Bitcoin's remarkable journey to new all-time highs. However, as BTC completes its final leg of price discovery and surges past $111K, optimism is returning to the broader crypto market, particularly in the performance of altcoins.

With Bitcoin now testing the upper boundaries of its recent trading range, traders are growing increasingly optimistic that a new bull market is underway. This optimism has been fueled by several factors, including the U.S. banking crisis, which appears to be contained. Moreover, despite rumors of a potential recession, the broader economy has shown resilience, and several major cryptocurrencies have achieved significant gains since May.

Among the altcoins that are gaining momentum, Ethereum stands out. Since early May, ETH has risen by over 55%, showcasing the broader market strength and renewed investor confidence. However, despite this impressive recovery, ETH lags behind Bitcoin's pace and has yet to reclaim its 2021 highs.

Top analyst Daan shared a technical view highlighting that ETH has been chopping around the $2,400–$2,600 zone since its last squeeze higher. This range-bound price action signals indecision, as buyers remain active but haven’t yet triggered a breakout.

Daan adds that although Bitcoin is showing strong leadership with its push into new highs, Ethereum’s performance in this phase has been more muted. This is evident in the cooling ETH/BTC ratio, which typically heats up during altseason.

Still, the setup remains constructive for bulls. The $2,400 level has acted as solid support, while resistance above $2,800 remains the next target to clear for continuation. As Bitcoin continues to lead, ETH could be next in line to surge—if it can escape this range and follow BTC’s lead into a new leg higher. All eyes are now on Ethereum’s next move.

As Bitcoin surged to a new all-time high above $111K, the broader crypto market appears to be entering a fresh phase of momentum, one that could drive massive gains across altcoins. Among them, Ethereum is in a critical position. While ETH hasn’t followed BTC’s breakout just yet, it’s holding firmly above support and showing signs of building strength.

To confirm a bullish continuation, ETH needs to break decisively above resistance and lead the altcoin rally. This would be a technical shift toward higher highs, setting the stage for further gains.

Top analyst Daan shared a technical view, noting that ETH has been consolidating between the $2,400 and $2,600 levels since its last squeeze higher. Despite Bitcoin’s explosive move, Ethereum is once again lagging, a dynamic that’s been reflected in a cooling ETH/BTC ratio.

This underperformance has sparked debate among traders, with many waiting for ETH to catch up and drive the next altseason. According to Daan, the $2,500 zone has been well-defended by bulls, but ETH has yet to produce a convincing breakout. The key resistance level to watch is $2,850—clearing it would mark a technical shift toward higher highs.

On the flip side, if ETH falls below $2,100, it could trigger a broader pullback. For now, ETH remains range-bound but poised, with market sentiment growing more optimistic by the day. As Bitcoin continues to set the pace, traders will be closely watching to see if Ethereum can follow suit and breakout to ignite the next stage of the altcoin rally.