Ethereum Flips Major Resistance – Bulls Eye Return To $2,900

Ethereum has broken above the $2,385 resistance level of a major ascending triangle formation, fueled by geopolitical relief over the US-Iran conflict and subsequent macroeconomic improvements. Analyst Ali Martinez targets $2,900 as the next major level, with immediate resistance at $2,721, contingent on ETH maintaining the newly established support zone.

Ethereum's 3% daily gain reflects a confluence of technical and macroeconomic catalysts. The announcement of a 10-day ceasefire between the US and Iran, coupled with the reopening of the Strait of Hormuz for commercial shipping, triggered a substantial decrease in oil prices. This geopolitical de-escalation improved risk sentiment across global financial markets, driving capital into volatile assets including cryptocurrencies. For Ethereum specifically, this macro tailwind arrived at a technically significant moment—the altcoin had been consolidating within an ascending triangle since February, a pattern that typically precedes substantial directional moves once the resistance breaks.

The technical setup carries particular weight given the recent nullification of a bearish TD Sequential signal that had previously triggered corrections near $2,400. With $2,385 now functioning as support rather than resistance, the chart framework suggests meaningful upside potential. Immediate overhead resistance sits at $2,721, approximately 12% above current levels, while the primary target of $2,900 represents a 20% advance from the breakout point. This progression follows textbook ascending triangle mechanics where price confirmation above the previous ceiling often generates accelerated momentum.

However, this bullish thesis remains conditional. Any sustained decline below $2,385 would invalidate the pattern and likely rekindle bearish pressure. Given Ethereum's 51% discount to its August 2025 all-time high of $4,955, the broader macro recovery story remains incomplete. The coming days will clarify whether this geopolitical relief catalyzes a sustained trend reversal or represents merely a tactical bounce within a prolonged bear market.

• →Ethereum broke above the $2,385 ascending triangle resistance, with analyst Ali Martinez targeting $2,900 as the next major level.
• →The US-Iran ceasefire announcement reduced oil prices and improved macroeconomic conditions, driving risk-asset inflows into crypto markets.
• →A previously bearish TD Sequential signal has been nullified, removing technical headwinds from the bullish case.
• →The breakout remains conditional on Ethereum maintaining $2,385 as a support level; a break below would invalidate the bullish setup.
• →Ethereum trades 51% below its all-time high despite recent gains, indicating significant bearish overhang persists.