Can Bulls Sustain the Push Toward $2,750 After Breakout?

Ethereum price today is trading near $2,611, reflecting a modest 0.27% intraday rise amid signs of renewed short-term strength. After bouncing from the $2,500 region, Ethereum price has reclaimed the lower band of its previous supply zone, pushing toward the critical $2,660–$2,725 resistance. This level has rejected multiple rallies over the past week, making it a pivotal region for bullish continuation into the mid-June cycle.

Despite macro uncertainty, the broader structure hints at a potential shift in bias, with key indicators showing bullish re-acceleration across shorter timeframes.

What’s Happening With Ethereum’s Price?

Ethereum price action over the past 48 hours has shown renewed buyer confidence after holding above the $2,500–$2,530 support zone. On the 4-hour chart, price has broken out from a descending wedge and retested the breakout region successfully, suggesting upside continuation potential. The immediate resistance now sits at $2,662, followed by a key horizontal level at $2,723.

The most recent Ethereum price update reveals an attempt to flip the upper trendline of a two-week symmetrical triangle into support. Price remains above all key short-term exponential moving averages (20/50/100 EMA), while Bollinger Bands are beginning to widen, typically a precursor to a volatility expansion phase.

ETH price forecast (Source: TradingView)

On the daily chart, Ethereum price volatility has been relatively compressed over the past five sessions, but today’s bullish candle indicates a breakout from consolidation.

Price remains comfortably above the 0.382 Fibonacci retracement level ($2,424), with the next target aligning near the 0.5 Fib level around $2,745, which coincides with the top of the resistance band.

RSI, MACD, and Momentum Insights

ETH price forecast (Source: TradingView)

Short-term momentum indicators are turning positive. On the 30-minute chart, the Relative Strength Index (RSI) is hovering near 59.36, below its earlier peak of 67.96, suggesting there’s room for further upside before entering overbought conditions. Stochastic RSI has crossed upward from deeply oversold levels (8–10 zone), signaling renewed buyer momentum.

The MACD on the 4-hour chart has also printed a bullish crossover above the zero line, with histogram momentum starting to rise again. The positive divergence between MACD and price suggests the recent pullback may have concluded.

ETH price forecast (Source: TradingView)

The Ichimoku Cloud on the 1-hour chart confirms a bullish bias, with price comfortably above the Kijun-Sen and Tenkan-Sen. The Chikou Span is also above price, affirming short-term trend alignment in favor of bulls. A key cloud support lies around $2,563, while immediate cloud resistance has been cleared.

Why Ethereum Price Going Up Today

ETH price forecast (Source: TradingView)

The question is: why is the Ethereum price going up today after last week’s mixed sentiment? Technically, ETH has broken out of multiple trendlines and reclaimed former resistance at $2,600. Additionally, positive crossover signals across MACD and Stoch RSI indicate short-term bullish follow-through.

ETH price forecast (Source: TradingView)

Another factor driving today’s uptick is strength in broader altcoin sentiment, fueled by Bitcoin’s stability above $105K and risk-on appetite in equity indices. ETH continues to act as a leading alt indicator, and its ability to defend the $2,500 zone has encouraged short-term traders to re-enter.

Short-Term Ethereum Forecast and Key Levels to Watch

ETH price forecast (Source: TradingView)

Looking ahead, Ethereum price spikes are likely if bulls can break and close above the $2,723 level. This would open the door to a rally toward $2,800 and potentially $2,860. However, failure to break above this resistance could result in a retest of the $2,565–$2,530 support range.

The daily structure also shows ETH holding above the diagonal trendline extending from the May 1st breakout, which aligns near $2,496. This level remains the key invalidation point for the bullish setup.

Forecast Table: Ethereum Price Prediction for June 04, 2025

The Ethereum price today is attempting to break out from consolidation and retest major resistance levels. If current momentum sustains, Ethereum could retest the $2,723 mark with an upside extension toward $2,800. However, traders should monitor the $2,565 and $2,496 zones closely, as a breakdown below this cluster would invalidate the bullish breakout structure.