Ethereum Tests EMA50 Near $2,573; Potential for $3,500 Rally

Ethereum is currently hovering near the 50-week EMA level of $2,573 after a test. Traders are closely watching for a clear weekly close above this level to potentially trigger a rally towards $3,500. Past breakouts from this long-term indicator have consistently resulted in significant price increases, with past examples ranging from 24% to 55%. Ethereum’s current chart structure suggests that if the price breaks through this resistance, it may open up a path toward achieving a short-term rally of up to $3,500.