Ethereum: Breakout Holds — Initial Test Still HoldingEthereum / TetherUSBINANCE:ETHUSDTDukesMarketAnalysisPowerful Breakout Changes the Picture Ethereum’s recovery from the $1,505–$1,512 double bottom has accelerated sharply, with a huge weekly candle breaking through the psychological $2,000 level. That move has significantly improved the broader structure. Old Structure Now Being Retested Price is now testing the previous key structural area around $2,400 from above. This zone attracted sellers several times during April and May, so holding it as support would add considerable weight to the breakout. 200-Week SMA Is the Next Major Test The 200-week SMA sits directly overhead around $2,500 and has already attracted some selling interest. A convincing break through this average would remove another important obstacle and strengthen the bullish case considerably. Weekly Momentum Remains Constructive Weekly RSI has pushed firmly above 50 following the breakout and continues to hold there. Momentum therefore remains supportive of the recovery, despite price now reaching an area where some consolidation or a pullback would hardly be surprising. If This Is the Real Deal... The bigger question now is how far this recovery can run before Ethereum finally sees a meaningful pullback. Holding above the reclaimed $2,400 area and breaking through the 200-week SMA would make the move increasingly difficult to dismiss. In Summary Ethereum’s recovery continues to look constructive after the powerful breakout above $2,000, with price now attempting to turn the old $2,400 structural area into support. Weekly RSI remains firmly above 50, but the 200-week SMA directly overhead is providing the next major test. If this is the real deal, a convincing break through that average would considerably strengthen the bullish case and raise the question of just how far this recovery can ultimately run.