Can ETH Break Past $2,835 and Confirm New Upside?

After a sharp rebound from early June lows, the Ethereum price today is holding firm near $2,795, pushing into a significant resistance band between $2,800 and $2,835.

This comes after ETH registered a clean breakout from consolidation on the 4-hour chart, supported by expanding Bollinger Bands and sustained volume. The price now sits just beneath the 0.5 Fibonacci retracement level from the 2024–2025 drop, setting the stage for a potential continuation move.

What’s Happening With Ethereum’s Price?

On the weekly chart, ETH is retesting the 0.5 Fib level at $2,845 after a multi-week recovery from $1,385 lows. The larger structure suggests the trend has turned bullish, with the 0.618 retracement at $3,148 now acting as the next macro target if $2,845 is breached.

ETHUSD price dynamics (Source: TradingView)

Zooming into the daily chart, Ethereum price action has pushed into a grey supply zone that triggered prior breakdowns. This zone overlaps with both descending trendline resistance and a historical liquidity pocket, making it a critical level for bulls to flip into support. A successful breakout above $2,835 would clear the path toward $3,000 and $3,150 in the short term.

Momentum Indicators Support the Breakout Case

ETHUSD price dynamics (Source: TradingView)

Ethereum’s recent rally is backed by strong momentum on the lower timeframes. On the 4-hour chart, ETH has reclaimed all major EMAs (20/50/100/200), with the 20 EMA crossing above the 100 and 200 lines — a bullish realignment last seen in late April. The price is also pressing the upper Bollinger Band at $2,861.86, suggesting increased Ethereum price volatility and a potential breakout setup.

ETHUSD price dynamics (Source: TradingView)

The 30-minute RSI is steady near 57.5, just below overbought territory, indicating bulls still have room to push higher. Meanwhile, the MACD line remains above signal despite a narrowing histogram, suggesting bullish momentum is intact but may need a fresh impulse to accelerate.

ETHUSD price dynamics (Source: TradingView)

On the Ichimoku chart, the price is comfortably above the cloud with Tenkan-Sen and Kijun-Sen flattening near $2,785. This signals a pause in immediate trend strength, but the overall bias remains positive as long as ETH stays above $2,746 (cloud base). The Stochastic RSI is turning up from oversold levels (22.74), adding early signs of renewed upside pressure.

Why is the Ethereum Price Going Up Today? Bullish Breakout From Range Structure

ETHUSD price dynamics (Source: TradingView)

The answer to why Ethereum price going up today lies in the multi-timeframe breakout visible across charts. On the 4-hour structure chart, ETH broke above a symmetrical triangle and reclaimed the $2,700–$2,730 demand zone. This breakout aligned with a break in the descending trendline from May’s high, forming a new higher low at $2,430 and confirming a bullish trend shift.

The 30-minute chart shows a well-supported bullish flag breakout, followed by consolidation above $2,775. A minor diagonal resistance exists near $2,834, and a decisive move above it could trigger aggressive long positioning toward $2,900 and beyond.

Ethereum Price Forecast for June 12

ETHUSD price dynamics (Source: TradingView)

Looking forward, Ethereum price update signals a high-stakes test of the $2,835 ceiling. If buyers break through with strong volume, upside targets at $2,900 and $3,050 become active. However, failure to hold above $2,775 would expose ETH to a pullback toward $2,713 and $2,660 — areas aligned with the 20 and 50 EMA clusters on the 4-hour chart.

Macro structure remains constructive, with the 0.5 and 0.618 Fib retracement levels ($2,845 and $3,148) framing the next directional zone. Traders should closely watch the RSI and MACD signals for confirmation of breakout momentum.

Ethereum Price Forecast Table: June 12