Across the political spectrum, American Jewish leaders say that when they consider the future in Egypt and what it means for Israel, it is as if they are standing on a shaky tightrope stretched between poles of hope and dread.

In many ways, the collapse of the 30-year regime of President Hosni Mubarak is being welcomed by the leaders of American Jewish organizations as a historic moment worthy of rejoicing. After all, they said in interviews on Sunday, they can identify with the rebellion in Egypt because thousands of years ago the Jewish people rebelled against enslavement by an Egyptian pharaoh.

“I can’t help but look at them and see people rising up and saying, We want to be free,” said Rabbi Steve Gutow, president and chief executive of the Jewish Council for Public Affairs, an umbrella organization that represents 140 national and local Jewish groups.

“Certainly there are things to worry about,” Rabbi Gutow said, “but this has to be a moment to be supported and celebrated and looked at with a sense of awe.” But he, like other leaders, said he was watching warily to see who takes power in Egypt, whether the new government respects human rights, how it relates to the United States and whether it will preserve the longstanding peace treaty with Israel.