Ethereum To ‘Witness Big Breakout’ In The Next Two Weeks If This Level Holds

NewsBTC
Updated
Mitrade
coverImg
Source: DepositPhotos

As price continues to trade sideways, Ethereum (ETH) has reclaimed a crucial level, which could kickstart a breakout toward the $2,100 resistance. However, some analysts suggest that bulls need to take action or a 15% drop could be in the horizon.


Ethereum Eyes Breakout To $2,100


After successfully holding the $1,750 level as support, Ethereum has reclaimed the key $1,800 resistance. The cryptocurrency has recovered nearly 20% over the past two weeks, hitting a one-month high of $1,873 at the start of May.


ETH currently registers a 1.92% increase from its monthly opening following its negative 1.95% April. Notably, the King of Altcoins could end a five-month red streak if it continues trading above the $1,807 mark in the coming weeks.


Amid the Tuesday correction, Ethereum retested the $1,750 level before jumping back above the $1,800 mark. Analyst Michaël van de Poppe noted that ETH is holding the recently reclaimed resistance and starting to bounce to confirm as support again, indicating buying pressure.


Ethereum

 

As a result, the analyst considers that investors are “about to witness a big breakout” to the $2,100 barrier in the coming 1-2 weeks. Reclaiming this level is key for Ethereum, as it was a key resistance ahead of its Q4 2023 breakout and served as a key support zone during the 2024 and early 2025 rally.


Analyst World of Charts highlighted that ETH has been moving sideways between the $1,750-$1,870 price range after breaking out from its downtrend in late-April. And it “seems like building up for solid breakout” from its consolidation zone.


Per the post, a breakout from this range and confirmation of the level as support could send the cryptocurrency toward the $2,500 level, lost in February.


ETH’s Price Risks Another Correction


Market watcher Daan Crypto Trades pointed out that “bulls would want to get a move going soon,” despite ETH’s price holding above the $1,750 support.


The trader suggested that the altcoin could not stand another retest of this range, and if the level doesn’t hold, a 15% drop could be likely.


Ethereum


“if that level gives in, it can be pretty easy to see how it just “Bart moves” back down to the $1500s,” Daan detailed, warning that ETH could risk a new low if it falls below this level.


Nonetheless, he concluded that it is “still fine as long as it trades where it does but be careful if we’d see a move & close below $1750.”


Crypto Amsterdam also suggested that ETH could dive toward the $1,500 mark. According to the chart, if Ethereum is rejected again from the current levels, it could retrace toward the mid-April levels, between $1,550-$1,650, before bouncing toward its range high above the $1,900 mark.


As of this writing, Ethereum trades at $1,811, a 1% decline in the daily timeframe.


Ethereum, ETH, ETHUSDT

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC teases all-time high, ETH and XRP gear up for breakoutBitcoin (BTC) price is hovering around $108,500 at the time of writing on Monday, just 3% shy of its all-time highs.
Author  FXStreet
47 mins ago
Bitcoin (BTC) price is hovering around $108,500 at the time of writing on Monday, just 3% shy of its all-time highs.
placeholder
Bitcoin Price Uptrend Intact — Extension Likely if Momentum HoldsBTC is now consolidating and might aim for a move above the $108,800 resistance.
Author  NewsBTC
1 hour ago
BTC is now consolidating and might aim for a move above the $108,800 resistance.
placeholder
Ethereum Builds Strength Against Bitcoin: Breakout Prediction Above 0.02 BTCEthereum has taken a backseat to Bitcoin’s dominance for most of the past year by trailing in performance and growth of market dominance.
Author  FXStreet
3 hours ago
Ethereum has taken a backseat to Bitcoin’s dominance for most of the past year by trailing in performance and growth of market dominance.
placeholder
Bitcoin is the sixth-largest asset worldwideBitcoin is the sixth-largest asset worldwide, beating Google.
Author  Beincrypto
Jun 27, Fri
Bitcoin is the sixth-largest asset worldwide, beating Google.
placeholder
Why Hasn't Ethereum Broken Through the $2,500 Key Level?Ethereum (ETH) fell nearly 1% in early trading on Friday. As of this writing, Ethereum is trading around $2,440.
Author  Insights
Jun 27, Fri
Ethereum (ETH) fell nearly 1% in early trading on Friday. As of this writing, Ethereum is trading around $2,440.
Real-time Quote