Ethereum (ETH) price traded at around $2,380 after going past critical resistance

That suggests it could climb to $3,000 and $4,000. The sharp upmove started after the Federal Open Market Committee’s decision to hold interest rates steady

Ethereum (ETH) price traded at around $2,380 after going past critical resistance. That suggests it could climb to $3,000 and $4,000.

The sharp upmove started after the Federal Open Market Committee’s decision to hold interest rates steady on May 7. Ethereum price has cleared critical levels, and on-chain metrics are flashing bullish signals. So, the stage is set for a significant upside move.

Ethereum Price Broke Key $1,860 Resistance

According to Ali Martinez, Ethereum price recently broke above the $1,860 resistance. It is a critical zone where 4.54 million wallets hold 5.58 million ETH.

The breakout of this major supply wall could mark a massive change in market sentiment as the cryptocurrency has finally broken out of an important supply wall that had been capping its progress for the past few weeks.

As the price has rebounded above this level and is now holding strong, the potential for a long-term rally in Ethereum could continue with the next logical targets at $3,000 and $4,000.