Ethereum Surges Past $2,800 After Wyckoff Spring Accumulation
Ethereum price has completed a Wyckoff Spring accumulation around $2,145, signaling a bullish reversal. Following this base formation, Ethereum price surged past the $2,800 resistance level with a 5.65% daily gain, backed by rising DeFi activity, stronger on-chain metrics and renewed investor demand ahead of upcoming network upgrades. Trading volume climbed sharply and market capitalization pushed toward $340 billion.
Technical analysts now point to short-term targets near $3,000 and key resistance zones at $3,800 and $4,085, while a decisive close above these levels on strong volume could propel Ethereum toward $5,400. Meanwhile, fundamental drivers—such as the deflationary EIP-1559 mechanism, expanding DeFi ecosystem and increased institutional accumulation—provide solid support for sustained bullish momentum. Traders should monitor volume trends, weekly candlestick closes and resistance breaks to identify optimal entry points.
Bullish
The news combines a classic Wyckoff Spring accumulation with a strong breakout above $2,800, confirmed by a 5.65% daily gain and rising trading volume. In the short term, this momentum suggests further upside toward $3,000 and key resistance at $3,800–$4,085, while a decisive volume-backed close above these levels could target $5,400. In the long term, fundamental drivers—such as the EIP-1559 deflationary mechanism, expanding DeFi ecosystem and increased institutional accumulation—reinforce sustained bullish sentiment. Traders are likely to respond with increased long positions, further supporting price stability and upward trajectories.