Ethereum Breaks Out: Is Bullish Trend On the Horizon?

Recent technical analysis suggests that Ethereum (ETH) is breaking out of its long-held downtrend, prompting questions about a potential reversal in the market. The price of ETH has climbed above $1,625 after a period of decline, marking a significant milestone for the crypto asset. This recent surge coincides with signals suggesting an oversold condition, indicating that the selling pressure might be easing. 30% trading volume jump is also observed in the same timeframe which is another indication of bullish momentum.