Ethereum breaks $2,470 monthly resistance level with analyst calling bull market continuation; network activity supports recovery but sustainability depends on holding above key support.
Macro & Markets ·
Ethereum has moved above the $2,470 monthly resistance threshold, marking a potential reversal of the downtrend that started in August 2025, according to analysis shared by Matthew Hyland. The move has prompted some traders to argue that no meaningful price ceiling exists until $4,000, though the flip side carries risk: if the token slips below $2,000, further weakness could unfold.
Network metrics offer some backing for the recovery narrative, with roughly 1 million active addresses in circulation. This level of participation suggests genuine engagement rather than isolated movement.
What remains unclear is whether the breakout will hold. The entire bullish case rests on Ethereum sustaining its position above the $2,470 level; a sustained dip below it would undermine the thesis of a trend reversal.