Analysis: The next target price for Ethereum may be $2,800, with short-term upward potential emerging

Ethereum has recently shown strong rebound momentum, with several technical and on-chain indicators suggesting it may challenge the $2,800 mark in the short term.

On Monday, ETH trading volume increased, breaking the previous bearish flag on the daily chart and reclaiming key moving averages, including the 20-day EMA ($2,072) and the 50-day EMA ($2,210). Technically, the symmetrical triangle pattern indicates that if the price breaks above the upper trendline, the theoretical upside could reach $2,850, corresponding to the 200-day EMA. Meanwhile, the next resistance level is around $2,500 near the 100-day EMA. On-chain data shows that resistance for Ethereum is concentrated in the $2,770--$2,880 range, where over 7.9 million ETH are held long-term. Additionally, the cost basis distribution indicates that there is an accumulation of over 3 million ETH near the $2,800 mark, providing a potential pathway for the price to challenge this level in the short term. Considering multiple factors, $2,800 may become a key target for Ethereum in the next phase.