Ethereum climbed above $2,650 on renewed bullish momentum, with ETH trading at approximately $2,667 at last check, up 3.37% over the past 24 hours. The latest rally follows a breakout from short-term consolidation and has put new resistance levels into focus for traders.
Bullish Flag Breakout and Upside Projections
After consolidating beneath resistance near $2,550 to $2,600, Ethereum broke above a short-term bullish flag. The move came after a sharp prior rally, with buyers able to push ETH through the upper range of the pattern. Technical analyst Celal Kucuker identified this breakout as a possible continuation signal, projecting a further 37.06% advance toward a target of about $3,520.
By using the height of the preceding rally, chart projections suggest a move toward $3,520.79, as long as Ethereum holds above the pattern’s upper boundary.
The continuation of the breakout scenario depends on ETH maintaining its position above the former flag resistance. Dropping back inside the pattern could weaken momentum. While the structure has improved, Ethereum must still overcome a series of resistance levels before reaching its projected target.
Key Support at $2,631: Point of Control
Ethereum’s breakout has pushed the price above an important volume-profile level. The Point of Control (POC) for the recent price action sits at approximately $2,631—a region where significant trading activity has occurred in the measured range. Crypto analyst CW8900 highlighted this area as a crucial support level, especially after Ethereum’s latest recovery. With ETH near $2,667, the POC now lies just beneath the current price and could become a focal point in the event of any short-term pullback.
Mini dictionary: Point of Control (POC), the price level with the highest trading volume in a given range, often viewed as a key support or resistance area.
If Ethereum holds above $2,631, analysts see this as evidence that buyers are defending a significant high-volume area. Losing this level could push the price down to the $2,600–$2,550 support region. The current volume profile supports a positive outlook, but an upcoming retest will clarify whether ETH’s rally can continue.
| Support/Resistance Level | Significance |
|---|---|
| $2,631 | Point of Control, major support |
| $2,600–$2,550 | Previous high-volume support |
| $2,700–$2,800 | Next resistance zone |
| $3,000 | Psychological resistance |
| $3,520 | Bullish flag projection target |
Market Sentiment and Buy-the-Dip Interest
The rising structure for Ethereum continues to attract buying during brief retracements. Analyst Scient noted persistent demand and suggested that even a deeper move toward $2,150 could present accumulation opportunities in the coming weeks.
Analysis points to ongoing investor confidence, with shallow corrections frequently met by new buying interest as long as Ethereum stays above the key support range.
Recent price action reveals Ethereum bouncing back from previous downtrends and reclaiming an important historical trading region. The broader outlook remains constructive, provided the $2,631 level and other supports are not breached. A significant move down to $2,150 would indicate a deeper correction, not the immediate scenario foreseen by most analysts.
Price Momentum and Quarterly Performance
Ethereum’s breakout has bolstered its short-term prospects, with immediate focus on the $2,631 support. Sustaining above this threshold could enable an advance toward $2,700–$2,800 and eventually the $3,000 psychological level.
In the broader context, analyst BitBull calculated that Ethereum has gained about 67.57% so far in the third quarter of 2026, marginally ahead of the 66.55% quarter gain from 2025. Should this trend continue through the end of the quarter, this would mark Ethereum’s strongest third-quarter performance in recent years.
As long as momentum persists, the bullish flag target near $3,520 remains a possibility. However, dropping below $2,631 exposes the downside toward previous support zones and increases the risk of re-entering consolidation.
At time of reporting, Ethereum’s price was close to $2,748, up 4.41% over the last 24 hours. Markets will be watching the next retest to determine if ETH can extend its gains or if it needs to consolidate further before another advance.
