Ethereum Price Analysis: Breakout to $3,000 or Breakdown to $2,200?

Ethereum’s price has been confined near the $2,650 level following a robust 45% monthly rally. As of now, ETH trades at $2,631, down 3.79% in the past 24 hours, signaling short-term selling pressure. However, beneath this surface lies a classic technical setup that could guide the next significant move to its resistance zone between $2,700 and $2,800. Analysis suggests that a confluence of factors could result in a breakout or a breakdown.