Ethereum has surged over 8%, pushing it past the $2,600 level. The price is now hovering around $2,675 after trading as low as $2,453 earlier in the day. This impressive gain follows a market-wide surge of 2.8% which pushed crypto’s overall market cap to $3.38 trillion. While the fear and greed index remains at 74, indicating the continued presence of greedy sentiment, the majority of assets have bounced back to their previous highs. Notably, Ethereum has recovered its ground. ETH saw a gain of 8.97% in just the last 24 hours. If this momentum continues, exceeding $3,000 could be the key driver for further price growth. 24-hour trading volume jumped significantly, reaching over $36.64 billion, signaling strong buying activity. Liquidations of over $158 million have also been recorded on ETH, as per Coinglass data. Analysts are optimistic about Ethereum’s future, but a breakout above the $3,000 mark could be crucial for further upward movement. 8% surge is not just a short-lived jump, it has potential to last longer. Will this bullish trend continue? The 4-hour chart shows a brief upside pressure with green candles, suggesting strong momentum. Ethereum price could reach the crucial resistance level at $2,710 before any significant pullback. A sustained rally, however, is expected to push the price toward $2,800. On the other hand, if bears regain control, Ethereum could retrace to the support level of $2,606 before potentially falling further. The market may face resistance from bearish investors, which might slow down the recovery process.