Ethereum is up about 36% from its last accumulation zone, pushing the price into a critical area where momentum is often tested. With key resistance now in place and signs of hesitation emerging, the market is approaching a pivotal moment that could determine whether it continues to rise or slows down.
Ethereum grows 36% from the accumulation zone
According to Crypto Patel, ETH is up approximately 36% on its value accumulation zone, pushing the price to a critical resistance area. After such a forceful move, this region is usually seen as a logical zone where swing traders should consider locking in some profits while watching the price reaction.
The analyst outlined several key levels that could shape the next phase of price action. On the other hand, the first target is around $2,828, which represents a fair value gap (FVG) that the price may want to fill. Just above him is the major resistance and the decision zone near $2,900. On the other hand, a return towards the $2,000 area would be a invalidation point, signaling a weakening of the bullish structure.
From a scenario perspective, confirmation would be a decisive break above $2,900, especially if supported by forceful volume bullish continuation. Such a move could significantly change market sentiment, opening the door to much larger ones rally to the region of $10,000. On the other hand, failure to break above the $2,900 level could trigger a deeper pullback, with the price likely to return to the $2,000 area as part of a broader correction phase.
Ultimately, the emphasis remains on discipline and patience. Rather than chasing price or reacting to media hype, the strategy is to allow the market to confirm its direction, which helps avoid unnecessary risk as the next move unfolds.
Rejection at the $2,400 resistance level
Analyst Tede highlighted that Ethereum tried to regain the $2,400 level but ultimately failed. This rejection suggests that buyers are still struggling to regain control at key resistance by holding a short-term position momentum on the weaker side.
Following the setback, attention now turns to the next key support zone near $2,250. This level will likely be tested if selling pressure continues and price reaction at this level will be key. A forceful rebound could stabilize the structure, while a failure could open the door to a deeper correction.
Ethereum is currently underperforming compared to Bitcoinwhich adds another layer of risk. When ETH shows relative weakness, it often becomes more vulnerable during broader market declines. As a result, even a petite correction in Bitcoin could have a much larger negative impact on Ethereum’s price action in the near term.
Featured image from Getty Images, chart from Tradingview.com
