Ethereum is starting to mirror Bitcoin’s bullish momentum, rising steadily as market confidence strengthens. After weeks of consolidation, price action is now pushing against a key resistance zone, indicating a breakout could be near. Of momentum As the building and structure become increasingly bullish, a movement is now becoming visible.
Breakout Brewing: Why ETH’s Structure Indicates an Impending Upside
Michaël van de Poppe, at a recent market updatesuggested that ETH is gearing up to follow Bitcoin’s upward path. The analyst, who outlined his levels in euros, highlighted a steady and controlled rise, with ETH now approaching a crucial price point. outbreak level around €2,070 ($2,430).
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Price action has continued to test this resistance zone without significant rejection. Such repeated attempts usually weaken a resistance level over time, as sales orders are absorbed and buyers gain confidence. With each new test, the probability of a breakout increases, indicating a possible shift to a stronger bullish phase.
Beyond the immediate barrier, he identified €2,350 ($2,759) and €2,900 ($3,400) as the next key resistance zones to watch. These levels could act as interim checkpoints, but the overall trend suggests that momentum will not easily come to a halt at the first hurdle.
A rejection around €2,350 would likely be considered a weak result, especially after nearly three months of consolidation below the current resistance band. Longer consolidation phases often lead to explosive moves, meaning a deeper push towards €2,900 (about $3,400) seems more consistent with the build-up seen on the charts.
Momentum on the broader altcoin market could accelerate further if Bitcoin continues its climb towards the $84,000-$87,000 range. In that scenario, Ethereum could not only achieve its expected euro-denominated targets but also pave the way for an even more aggressive upside phase.
Ethereum “Movin’ On Up”: Momentum builds over time frames
Donald Dean shared a bullish view on Ethereum, noting that both the daily and weekly charts are aligned for a strong upward move. His analysis highlights the improvement in structure across time frames, indicating that ETH may be entering a phase of sustained momentum.
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On the daily chart, the price shows a clear movement of a key volume shelf, with the next big pivot and target around $2,970. This level could act as a springboard for further upside potential if momentum continues to build. Based on Fibonacci projections, the golden ratio of 1.618 points toward a significantly higher target near $6,941.
From a weekly perspective, ETH is bouncing off strong support, with historical patterns pointing to the potential for a 200% move, similar to previous cycles. The extension of 1.618 on this timeframe comes in slightly higher at $7,332, putting both the daily and weekly projections closely aligned around the $7,000 region, a confluence that strengthens the case for a major crisis. upside down expansion.
Featured image from iStock, chart from Tradingview.com