The momentum (Chikou/purple line) has cleared the Daily Ichimoku cloud on Ethereum following price closing above the cloud. This is the first time COINBASE:ETHUSD has becoming bullish since May 2022.
The last Daily breakout hit resistance at 3500 in March. It is important that the breakout clears the current Resistance of 2230 in order for this bullish leg to continue and not be a bear market rally. Longs need to be aware of this level if choosing to participate in this run. The next Resistance is at 2870.