Ethereum Snaps Back: ETH Reclaims Key 50-Week Trendline

[chainsniff]

Ethereum surged 7% in 24 hours, reclaiming its crucial 50-week moving average near $3,300 — a technical milestone that has historically triggered major rallies.
Analysts say ETH may have locked in a local bottom at $2,800, with previous recoveries from this trendline fueling 97% to 147% gains.
With ETH now trading above $3,360, traders are watching whether bulls can push toward the $3,500 resistance, which some say would open the door to a run at $5,000.

[Rimon Khan]

Reclaiming long-term trendlines often marks the start of bigger moves.

[Nahid Hossen]

Holding above this level could flip sentiment strongly in ETH’s favor.