Ethereum (ETH) has just broken a long-standing resistance level, triggering speculation about a potential rally reminiscent of the 2021 bull run. The MACD indicator showed a significant crossover on the monthly chart, accompanied by high RSI readings. This suggests ETH might have room to climb further. The latest breakout resembles Ethereum’s price behavior in 2020, where it surged from a multi-year downtrend and then experienced a strong rally to new highs. Similar bullish patterns are being observed now, with the price surpassing key support levels like its 50-day EMA at $4,164. Traders believe this setup may lead to another price surge similar to that of 2021. Ethereum has successfully bounced off its 50-day EMA and continues to show a strong technical base, with no major downtrend yet. This indicates bullish momentum is present in the market. The RSI currently sits at 52, showing a balanced market with neither strong buying nor selling pressure. If ETH can confirm its breakout above $4,450, this could further fuel the rally and trigger even larger gains.