Ethereum is starting to mirror Bitcoin’s bullish momentum, growing steadily as market confidence increases. After weeks of consolidation, price action is now pressing against a key resistance zone, signaling that a breakout may be imminent. WITH momentum buildings and structures are becoming more and more bullish, now we are focusing on one movement.
Brewing Breakout: Why ETH Structure Signals Imminent Improvement
Michaël van de Poppe on the recent market updatesuggested that ETH is preparing to follow Bitcoin’s upward path. The analyst, who reported his levels in euro terms, highlighted a steady and controlled upward rally, with ETH now approaching key breakout around 2,070 euros ($2,430).
Price action continues to test this resistance zone without significant rejection. Such repeated attempts tend to weaken a resistance level over time as you absorb sales orders and gain buyer trust. With each retest, the probability of a breakout increases, indicating a potential transition into a stronger bullish phase.
Beyond the immediate barrier, he identified 2,350 euros ($2,759) and 2,900 euros ($3,400) as the next key resistance zones to watch. These levels may act as short-lived checkpoints, but the general trend suggests that momentum may not be easily stopped at the first hurdle.
A rejection around €2,350 could probably be considered a penniless outcome, especially after almost three months of consolidation below the current resistance band. Extended consolidation phases often lead to piercing moves, which means that a deeper move towards 2,900 euros (about $3,400) appears more consistent with the enhance seen on the charts.
Momentum on the broader altcoin market could further accelerate if Bitcoin continues its climb towards the $84,000-$87,000 range. In this scenario, Ethereum could not only achieve its projected euro-denominated goals, but also set the stage for an even more aggressive growth phase.
Ethereum ‘Movin’ On Up’: Momentum Builds on Various Timeframes
Donald Dean common bullish view on Ethereum, noting that both the daily and weekly charts are trending towards a mighty upward move. His analysis highlights improving structure over various time frames, suggesting ETH may be entering a phase of sustained momentum.
On the daily chart, the price shows a clear key move volume price shelf, and the next major pivot and target will be around $2,970. This level may serve as a starting point for further increases if the dynamics continue to enhance. Based on Fibonacci forecasts, the golden ratio of 1.618 points to a much higher target near $6,941.
Looking ahead to the week, ETH is bouncing off mighty support and historical patterns point to the potential for a 200% move, similar to previous cycles. The 1.618 extension on this time frame is slightly higher at $7,332, which puts the daily and weekly outlook in close proximity around the $7,000 region, strengthening the case for the major upside down expansion.
Featured image from iStock, chart from Tradingview.com
