Ethereum ($ETH) held above the psychologically significant level of $2,600 over the weekend, confirming its breakout from a prolonged trading range. This movement was made possible by strong momentum, culminating near daily highs, and lifted the asset out of the corridor of $1,800–$2,000, where it had been since summer. For a market weary of uncertainty, this event could signal a potential global trend reversal.
According to forecasts by certified technical analyst Aksl Kibar (CMT, TechCharts), the current price actions accurately confirm his calculations. In mid-August, during a lull in the market, he predicted this scenario, setting an interim target at $2,163. In September, a breakout occurred, validating his forecast. However, Kibar urges caution, noting that it is too early to celebrate this success.
The analyst emphasizes that the "ideal scenario" for Ethereum does not involve an immediate reach for new highs but rather the ability of buyers to maintain their new position. To complete the formation of a multi-month base, Ethereum needs more sustained momentum and consecutive long bullish candles. Any fluctuations at the current highs could temporarily pull the price back down into slow trading ranges. The asset is undergoing classic stress testing as the market approaches a key phase to assess buyer commitment. If ETH can hold above $2,550 without deep pullbacks, this level will become a solid foundation for further growth. Otherwise, the current movement towards $2,630 will remain just a temporary spike within a prolonged sideways trend.
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