Ethereum price is attracting renewed market attention as analysts present technical scenarios pointing toward a potential move above the $2100 mark. Recent analyses from experts suggest that Ethereum price behavior is showing both bullish short-term structure and macro-level cyclical patterns, which could support an upward continuation if key levels hold.

Ethereum Price Could Surge Past $2100 on Liquidity Grab

Analyst Crypto Patel shared insight on the X platform, identifying a bullish price setup on the ETH/USDT chart. According to Patel, the top altcoin has shown a strong displacement move to the upside, which has led to a shift in market structure. This move followed a reaction from a previously identified bullish Point of Interest (POI).

Ethereum price is reacting positively from a key mitigation block near $2064.60, indicating strong institutional demand. The mitigation block represents a zone where the top altcoin price retraced after a breakout, often used by institutional traders to mitigate prior orders before continuing the trend. This setup places the entry for a long position within the upper mitigation zone, aligning with smart money principles.

The price target of $2128.12 aligns with a swing high liquidity zone, suggesting a likely smart money-driven move upward. These zones often hold clustered stop-loss orders and pending buy positions. A move into this area could allow investors to capture liquidity before a reversal. Patel sets a stop-loss at $2027.20, just below the mitigation block, providing a defined risk level if the altcoin price structure fails.

Current ETH Cycle Compared to 2018–2020 Pattern

Another analyst, TimeFreedomROB, posted a chart on X comparing Ethereum price weekly structure to its 2018–2020 cycle. The analysis shows ETH breaking below an ascending triangle, mirroring its past breakdown below a descending triangle before its major 2020 recovery. In that prior cycle, ETH price formed a macro bottom and rallied from under $100 to nearly $4800.

According to the chart, Ethereum price is currently trading near $2060. It recently broke below the $2300 psychological level and tested the lower diagonal trendline around $1800. This area corresponds with horizontal demand levels from previous years. The chart implies this could represent a final shakeout phase before a strong upward move, similar to historical cycles.

The support zone between $1800 and $2000 has acted as a long-term base in earlier market periods. A reclaim of the $2200–$2400 range is important for Ethereum price to confirm a shift back into bullish momentum on the weekly timeframe.

Altcoin Price Prediction

Additionally, the macro view provided by TimeFreedomROB outlines possible reversal targets if the price continues to follow historical patterns. In 2020, ETH saw a 40x increase following structure reclaim. While current conditions differ, the projected path includes potential resistance levels at $3600, $4870, and an extended range of $6000–$7500.

Supporting the bullish projections, analyst MAXPAIN noted that ETH price could retrace to the $1,900 zone before a potential rally to $3,000. His analysis, based on the TPO chart, identifies the $1,874–$1,924 range as a key support and accumulation area.

The top altcoin is currently trading at $2,064.98, showing an 8.10% gain over the past 7 days. Its market cap stands at $249.12 billion, with a 24-hour trading volume of $11.71 billion.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.