Ethereum is trading just above the $2,500 mark following days of volatility, choppy price action, and uncertainty across crypto markets. Despite the hesitation, bulls have held critical support, and the coming days are shaping up to be a defining moment for Ethereum and the broader altcoin space. Momentum is slowly shifting as investors look for confirmation that ETH will lead the next wave of upside action.
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Top analyst Ted Pillows has shared a bullish technical outlook, suggesting that a Wyckoff accumulation pattern is currently unfolding. According to Pillows, this structure resembles the early stages of major breakouts seen in past cycles and signals strong smart money positioning. He argues that Ethereum already played a key role in Bitcoin’s latest rally to new all-time highs, and now it’s Ethereum’s turn to shine.
A sustained breakout above the $2,600–$2,700 range could trigger the next phase of the cycle, with $3,000 in sight as the initial target. With market sentiment recovering and BTC consolidating near highs, traders and investors are closely watching Ethereum’s next move to gauge whether an altseason is around the corner. The setup is in place — but ETH must deliver.
Ethereum Builds Strength
Ethereum is up 82% from its April lows, demonstrating strong bullish control as the price holds firmly above key demand zones. Despite recent volatility, ETH continues to trade within a well-defined range between $2,400 and $2,700, a structure that has persisted since early May. This tight consolidation suggests the market is preparing for a decisive breakout, one that could define Ethereum’s trajectory for the remainder of the year.
Ted Pillows reveals that Ethereum is now undergoing a classic Wyckoff accumulation pattern. According to his analysis, this phase marks the transfer of ETH from weak hands to strong hands, and it mirrors past cycle setups that led to explosive rallies. Pillows argues that Ethereum helped push Bitcoin to new all-time highs, and now it’s Ethereum’s turn to take the spotlight.
If this pattern plays out, Pillows sees a clear path: first a breakout to $3,000, followed by a healthy correction, and then a push to $4,000 sometime in Q3. Beyond that, the real parabolic move may begin, driven by renewed confidence, broader altcoin participation, and sustained demand for ETH as a core asset in the crypto ecosystem.
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ETH Holds Above Key Support Amid Tight Range
Ethereum (ETH) is trading at $2,520, maintaining its position above critical support levels despite recent volatility. As shown in the 12-hour chart, ETH has acknowledged the $2,480–$2,500 zone multiple times since late May, signaling strong buyer interest at these levels. The price remains trapped within a tight consolidation range between $2,400 and $2,700, with no clear breakout yet in either direction.
ETH is currently trading near its 50- and 100-period SMAs, which are converging around the current price, indicating equilibrium and a potential inflection point. The 200-period SMA sits below $2,200 and continues to trend upward, supporting the longer-term bullish structure.
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Volume has remained relatively stable, with no spike suggesting institutional accumulation or mass distribution. For bulls to regain full momentum, ETH must reclaim the $2,600–$2,700 resistance and flip it into support. On the downside, a clean break below $2,480 could expose the $2,300 zone once again.
Featured image from Dall-E, chart from TradingView