Ethereum just made a move many traders have been waiting for months: it broke out of its downtrend and confirmed the breakout with a retest. Analyst Qmo pointed out that this could be the start of a bigger push upwards, with the price currently stabilizing inside a key demand zone.
This setup suggests Ethereum might spend some time consolidating before making its next attempt to climb towards the $2,200 to $2,400 range. If momentum holds, targets as high as $3,000 and even over $4,000 could come into play later.
However, these projections are not guaranteed yet. Ethereum needs to maintain this new structure and leave the demand zone convincingly for these higher price points to become more realistic. Previous similar breakouts have coincided with rotations into major altcoins, which could help propel the broader crypto market forward if this pattern holds.
Meanwhile, another analyst, Ted, noted the presence of significant liquidity clusters both above and below the current price. This means Ethereum could quickly swing in either direction depending on upcoming catalysts.
Ted highlighted the Clarity Act as a key factor. If the Act gains approval, short-sellers might face pressure, pushing Ethereum upward. But if the bill doesn’t pass, the cryptocurrency could fall back to around $1,500.
Looking at a longer timeline, Crypto Patel compared Ethereum’s current cycle with previous four-year patterns leading up to its rallies in 2017 and 2021. He identified a primary support zone between $1,000 and $1,350. Holding above that level is key for keeping a bullish outlook.
For Ethereum to truly resume its upward trend, Patel emphasizes it needs to break resistance near $3,945 and establish new support above that peak. His long-term target for Ethereum stands around $10,000, though that remains a distant goal.
