Ethereum has been attempting to reclaim the $2,800 level for days, but bears continue to apply selling pressure, keeping the price below this key resistance. Despite this, demand remains strong, with bulls successfully holding ETH above the crucial $2,600 support level. The short-term outlook for ETH remains uncertain, as investors speculate on whether the current consolidation phase will lead to a breakout or further declines.

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Despite this, there is a growing sentiment that Ethereum could soon recover. Top analyst Jelle shared a technical analysis on X, revealing that ETH recently took out the lows, retested the key trendline, bounced off key support, and held above the 200-week exponential moving average (EMA). According to Jelle, this confirms that the uptrend structure remains intact, suggesting that ETH still has bullish potential.

While price action remains sluggish, Jelle’s analysis highlights that Ethereum is still holding critical levels, which could lead to a strong move upward. If ETH reclaims $2,800 in the coming days, momentum could build toward a push above $3,000. However, if selling pressure continues and ETH loses $2,600, a deeper retrace could be expected. For now, patience is key as Ethereum hovers near crucial technical levels.

Ethereum Price Signals Potential Recovery Phase

Ethereum has been attempting to reclaim the $2,800 level for the past few days, with bulls struggling to confirm a recovery rally into higher supply zones. Price action remains uncertain, as investors watch closely to see whether ETH can push past this resistance or if selling pressure will drive it lower. The ongoing volatility has kept traders on edge, with some fearing that Ethereum might continue to drop further, testing lower support levels before any potential recovery.

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Market sentiment remains divided, with one side expecting a prolonged consolidation or further correction, while the other believes ETH is on the verge of a breakout. Analysts suggest that Ethereum is at a critical juncture, and the coming days could define its short-term trajectory.

Jelle’s technical analysis explains that ETH’s recent price action took out its previous lows, retesting the key trendline and holding above the 200-week exponential moving average (EMA) are all good signs. Jelle says the uptrend structure remains intact despite the slow price movement. He acknowledges that this may be one of the slowest uptrends Ethereum has ever experienced, but he still sees bullish momentum building.

Jelle also doubts that bears will be able to defend the $4,000 level once more if Ethereum gains strength. As ETH continues to hold key support levels and attempts to reclaim the $2,800 mark, a breakout could lead to a significant rally in the coming weeks. Investors are advised to remain patient as Ethereum navigates this critical phase, with many closely watching for potential trend confirmation.

ETH Testing Short-Term Supply

Ethereum is trading at $2,805, attempting to hold this level and push higher to confirm a recovery rally. Bulls are trying to establish support at this key price zone, aiming to regain momentum after weeks of consolidation. The price is just 7% away from the critical $3,000 mark, which sits slightly above the 4-hour 200 Moving Average. A break above $2,950 and a successful hold above this level would likely trigger an aggressive bullish recovery, pushing ETH toward higher resistance levels.

However, if Ethereum fails to hold above $2,800, the bullish momentum could weaken, leading to another round of selling pressure. In that case, ETH could drop back toward the $2,600 demand zone or even lower. This level has previously acted as strong support, and losing it could indicate further downside risks.

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For now, Ethereum remains at a pivotal point, where bulls must step up to maintain short-term strength. A breakout above resistance could fuel renewed optimism among investors, while failure to sustain current levels may lead to continued market uncertainty. All eyes are on ETH’s ability to reclaim and consolidate above key resistance levels to determine its next major move.

Featured image from Dall-E, chart from TradingView

The Ethereum price is drawing attention to its potential future outlook, as a crypto pundit points to a striking resemblance between the altcoin’s price action and Bitcoin’s during the 2015-2017 bull cycle. The analyst’s technical chart analysis suggests that ETH is destined for a breakout to $10,000 this cycle, marking new all-time highs. 

Ethereum Price Chart Mirror’s Bitcoin Historic Breakout

According to Ted Pillows, a crypto pundit on X (formerly Twitter), a comparative analysis of Etheruem’s current price movement and that of Bitcoin during a previous bull cycle highlights a familiar bullish pattern. Based on this past trend, the analyst confidently predicts that Ethereum will hit $10,000 this cycle. 

Between the bull market in 2015 and 2017, the Bitcoin price hit a bear market bottom between $201 and $205. After experiencing a bit of consolidation and volatility, the cryptocurrency eventually skyrocketed to a historic rally towards $685 and $785, marking new ATHs at the time. This massive surge occurred after Bitcoin broke out of resistance levels around the $465 threshold. 

Based on the Pillows’ hypothesis, Ethereum appears to be following a similar trajectory, having completed its accumulation phase and recently breaking through major resistance levels. The number one altcoin has also experienced significant volatility recently, struggling to recover from previous bearish trends and market sell offs that pushed its value below the $3,000 price high. 

While still in consolidation, as no strong surge has been recorded in the Ethereum price recently, Pillows highlights factors that could reinforce the altcoin’s bullish outlook. The analyst mentioned Ethereum’s Total Value Locked (TVL) and Stablecoin liquidity dominance. Currently, ETH leads in DeFi, securing the highest TVL across all platforms in the space. 

Pillows also highlighted the impact of institutional demand and accumulation. As these factors increase, Ethereum could gain more exposure, potentially boosting its long-term value. Lastly, the analyst mentioned that Ethereum currently has a lower inflation rate than Bitcoin and 99% of the altcoins in the market. 

Based on these seemingly bullish factors, Pillows urges investors and traders to set their sights higher, dismissing a $5,000 target as too conservative and advocating for a more ambitious $10,000 projection. 

ETH Whales Get Back In Action

While analysts share their optimistic projections about Ethereum’s future outlook, whales are getting in on the ground floor and buying ETH tokens in droves. While the recent decline in the price of ETH may have caused panic selling for some, deep-pocketed investors have taken the market crash as an opportunity to accumulate.

According to TradeerPA, a crypto analyst on X, new reports show that ETH has been getting rapidly accumulated by Ethereum whales. Due to this accumulation trend, the analyst advocates for a price rally to new ATHs, driven by a positive shift in market sentiment and increased demand.

Featured image from Adobe Stock, chart from Tradingview.com

Ethereum has experienced a prolonged consolidation below key resistance levels, struggling to find momentum as it continues to trade sideways. The price has been closing between $2,650 and $2,750 for the past week, creating uncertainty in the short term. With ETH facing selling pressure and unable to reclaim the $2,800 mark, investors are growing concerned about its ability to recover.

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Despite the recent choppy price action, some analysts believe Ethereum could be gearing up for a bullish move. Crypto expert Carl Runefelt shared a technical analysis on X, stating that Ethereum has been forming a bullish pattern on the daily time frame. If this pattern plays out, ETH could see a strong breakout in the coming days.

Ethereum is holding at crucial demand levels, making the next move critical for its short-term direction. If buyers step in and reclaim the $2,800 level, it could signal a trend reversal and open the door for a rally above $3,000. However, failure to hold support could lead to further downside, increasing selling pressure. With uncertainty looming, traders are closely watching ETH’s price action for confirmation of its next move.

Ethereum Consolidation Continues

Ethereum investors are trying to stay calm amid ongoing volatility, but fear continues to grow that ETH could see further downside if it fails to reclaim key levels. The price remains stuck in a tight range, trading between crucial liquidity levels of short-term demand and supply. Market sentiment is divided—some investors anticipate a deeper correction and prolonged consolidation, while others believe Ethereum is on the verge of a recovery rally.

Runefelt’s analysis on X states that Ethereum is forming a symmetrical triangle pattern and could break out “any hour now.” According to Runefelt, the target for this potential breakout is $3,055, a level that could serve as a turning point for ETH’s short-term trend. However, Ethereum must first reclaim the $2,800 mark and hold above it to confirm the start of a recovery phase.

If Ethereum successfully breaks above this resistance, it could trigger a strong rally, pushing prices back toward the $3,000 level. On the other hand, failure to hold support could lead to another wave of selling pressure. With uncertainty looming, all eyes are on ETH as traders await confirmation of its next major move.

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With Ethereum trading at a critical juncture, the coming days will be crucial in determining its short-term direction. If bulls sustain momentum and push the price above key resistance levels, confidence in a recovery rally will grow.

Price Testing Short-Term Supply

Ethereum is trading at $2,750 after nearly two weeks of struggling to reclaim the $2,700 level. While bulls have held above key support levels, ETH remains stuck below crucial resistance, making price direction uncertain. The most critical level that bulls must reclaim is the $2,800 mark, which has acted as a strong supply zone for weeks.

If Ethereum closes above the $2,800 level and holds above it, bullish momentum could build up, leading to a breakout. The next major target would be the 200-day Moving Average, which sits around $2,930. A push above this moving average would signal strength and open the door for ETH to test the $3,000 mark.

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However, if ETH fails to break above $2,800 and faces rejection, the market could see renewed selling pressure. This scenario would likely send ETH back toward the $2,600 level, testing lower demand zones. With Ethereum trading in a tightening range, a breakout or breakdown seems imminent. Bulls need to step up and reclaim lost ground quickly, or bears may take control and push ETH into lower price levels. The next few daily closes will be crucial in determining Ethereum’s short-term direction.

Featured image from Dall-E, chart from TradingView