Ethereum (ETH) proved to be extremely strong throughout the last week, outperforming Bitcoin (BTC) by a wide margin. Arbitrum’s latest rally has not only continued to pump outstanding returns through the market but sparked big liquidations too in the crypto scene. Analysts are now eagerly watching ETH to see its next move, looking for more upside.

In the past week, Ethereum (ETH) had incredible price action, spiking over 40%. That was an explosive 20 times greater than Bitcoin’s (BTC) much tamer 10% rise during the same time frame. The rally brought Ethereum (ETH) back above their February high levels, a very positive sign that momentum could be shifting.

Liquidations Surge Amidst Price Rally

The massive price spike on Ethereum (ETH) caused a cascade of liquidations. That was a spike that was more than double Bitcoin (BTC)’s liquidations. The violent price action is characteristic of a bear-market rally, driven in part by extreme short-selling sentiment. The disappointment has marinated due to the prior lack of performance from Ethereum’s (ETH). In one day alone, ETH and other crypto liquidations surpassed $300 million. This surprising twist hit home to over 120,000 traders.

Key Resistance and Support Levels

At present, the next major upside barrier for ETH sits at $2,800. Such a sustained move above this threshold would likely trigger a further bullish advance, potentially pushing Ethereum’s price all the way up towards $3,500. Market analysts agree that closing above this resistance is key to maintaining upward momentum.

If it overlooks to hold into its present bullish momentum Ethereum (ETH) could drop down to the $2,500 support mark. This price point is intended to serve as a firm floor level moving forward. This is where we expect a lot of buying interest to develop. Investors are waiting with bated breath at these levels to see whether the current rally can hold and be sustained.

Future Outlook for Ethereum

ETH price action over the past couple months indicates that a significant change has taken place under the surface. Analysts see even greater upside potential for the crypto. Crypto's capacity to cross $2,800 resistance will be an important test of its long-term direction. The next few days will be extremely important. By doing so, it will show us if ETH is ready for a break-up or correction soon.