Ethereum Eyes 15% Move Amid Key Resistance Retest – Breakout Or Rejection Next?
Ethereum (ETH) is retesting a critical resistance level after a 3% daily recovery. The cryptocurrency has struggled to maintain support at the upper boundary of the $2,475-$2,680 range since early May. Following an 11% retracement from a three-month high of $2,788, ETH bounced back to reclaim the $2,500 mark and approached the $2,600 resistance. Analysts suggest a potential 15% move is imminent if ETH breaks out of its current ascending triangle pattern, with forecasts indicating a surge toward $3,100. Conversely, failure to break this resistance could lead to a drop to the $2,300 support zone. Similar patterns observed in ETH charts suggest a breakout of 15%-20% is likely. Analysts note that ETH's current performance mirrors Bitcoin's price action in 2020, with potential for new all-time highs if trends continue. Currently, Ethereum trades at $2,632, reflecting a 44.2% increase over the past month.
