(Svmuu) - Ethereum's recent rally has gained momentum, with a number of technical and on-chain indicators pointing to a possible near-term push to the $2,800 mark. Monday's increase in ETH trading volume broke the previous bearish pennant on the daily chart and recovered key averages, including the 20-day EMA ($2,072) and 50-day EMA ($2,210). Technically, a symmetrical triangle pattern suggests a theoretical upside of $2,850 if the price breaks above the upper rail, corresponding to the 200-day EMA, while the next resistance level is at $2,500 near the 100-day EMA. On-chain data shows that resistance above Ether is concentrated in the $2,770-2,880 range, where more than 7.9 million ETH is held by long-term holders, while the cost-base distribution suggests that more than 3 million ETH has accumulated around $2,800, providing a potential path for prices to hit that level in the near term. A combination of factors suggests that $2,800 could be a key target level for Ether's next phase. (Cointelegraph)