These consolidation patterns often precede sharp breakouts, especially when price action nears critical support or resistance levels. Right now, Ethereum appears to be on the brink of such a breakout.

Key Resistance Under Pressure

The upper boundary of the triangle—marked around $2,550—is being tested. If we see a solid 4-hour candle close above this level with supporting volume, a move toward the $2,650 mark could follow swiftly. This would signal renewed momentum for the bulls.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

However, volume confirmation is essential. Without it, there’s a risk of a false breakout, potentially trapping over-leveraged traders.

Downside Risk Still Lingers

Conversely, if Ethereum breaks down from the lower end of the triangle, the price could swiftly retreat to the $2,350 level. Short-term traders should closely monitor their stop-loss placements to manage risk accordingly.

While the direction isn’t confirmed yet, the breakout is likely near. Traders would be wise to watch support and resistance levels closely.

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Especially with the RSI climbing to 62, the upward movement is expected to continue. However, caution is advised due to the approach of the overbought region. The $110,000 level is watched as a critical resistance, while a potential correction could bring BTC back to around $100,000. 

Ethereum (ETH) has also risen above the $2,500 level, establishing new support. Currently trading at $2,510, ETH is preparing to test resistance levels at $2,600 and $2,700. The RSI approaching the 50 line supports the buy signal. Interest in Ethereum spot ETFs continues to grow following the Pectra update. 

Optimism Continues in XRP and Altcoins 

XRP started an upward movement after finding support at $2.22. Now trading at $2.25, the cryptocurrency maintains its position above the 50 and 100 EMAs and continues its upward potential. The MACD indicator has been giving positive signals since Saturday. 

If a daily close above the 200-period EMA occurs, XRP targets could be $2.40, $2.50, and $2.65. The continued upward move of RSI will be an important indicator for sustained gains. 

This market recovery is fundamentally supported by the second round of trade negotiations between US President Donald Trump and Chinese President Xi Jinping last week. A UK government spokesperson said,

“The next round of US-China trade talks will be held in the UK on Monday. We are a country that supports free trade and has always clearly stated that a trade war benefits no one. That’s why we welcome these talks.” 

The talks also involve delegations led by US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng. 

NOT INVESTMENT ADVICE 

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Ethereum Foundation Transfers $2M in ETH

Etherscan allows transparent tracking of transactions on the Ethereum blockchain. Experts confirm that the address is linked to the Ethereum Foundation. However, the foundation has not yet provided an official statement about the purpose of the transfer. The Ethereum Foundation typically uses its funds for development projects, grant programs, and operational expenses to improve the Ethereum network.

The community paid special attention to the timing of the transfer, amid market fluctuations and the post-Merge period of Ethereum. The transfer of 1,000 ETH was completed at a market value of about $2.06 million based on ETH’s price at that time.

Crypto investors and analysts expressed various opinions about the transfer. Some argued it was a routine fund management move by the Ethereum Foundation, while others speculated it could signal a major sale or a strategic action. Social media users debated whether the Foundation was aiming to provide liquidity or redistribute funds.

Ethereum Price Analysis: Technical Outlook and Expectations

ETH has recently formed a strong support zone between $2,500 and $2,600. The price recently tested the $2,700 resistance level but has not yet broken it decisively.

Technical indicators suggest Ether is in an overall uptrend. The 50-day and 100-day EMAs converge around the $2,400 level, marking a critical support area. The 50-day EMA being above the price and close to the 100-day EMA supports short-term bullish momentum. According to Glassnode data, over $280 million worth of ETH has flowed into exchanges. Glassnode also noted that Ethereum ETFs have minimal impact on Ether’s spot price: “Ethereum ETFs initially accounted for only 1.5% of spot market volume, indicating a relatively muted launch.”

The Relative Strength Index (RSI) is hovering around 66-67, showing the market is between neutral and overbought. However, the overall market structure maintains a bullish trend.

ETH rebounded from support at $2,463 and is aiming for the $2,600 resistance. Selling pressure may increase around $2,800. If ETH closes above $2,700, it could trigger an upward trend towards $2,900 and beyond. Conversely, a drop below $2,500 could lead to a retest of the $2,300 support level.

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