Ethereum (ETH) is currently retesting a significant multi-year resistance level, a point it has only reached twice before in 2021 and again around 2025. Trader Crypto Patel believes this confluence of events presents the “biggest breakout setup yet” for the cryptocurrency.
Potential for Significant Gains
In a chart shared on Friday, Patel outlined a potential trajectory for Ether, projecting targets of $5,000, then $10,000, and ultimately $15,000 should the current resistance line be decisively broken. This analysis comes as ETH was trading near $2,500, still less than half of its all-time high.
Patel explained that ETH is testing this multi-year resistance zone for the third time, having previously found support in a long-term accumulation area. His chart illustrates a descending trendline from 2018 to 2021, characterized by three successive lower highs before ETH surged during that year’s rally. The same horizontal resistance level capped the price at its 2021 peak and again near 2025, with the current test marking the third interaction with this line.
Below this resistance, a broad band identified by the analyst as the “Best Accumulation Zone” has historically absorbed major pullbacks. A rising trendline within this zone, which ETH is currently trading just above at approximately $2,460 according to the chart, further supports this area.
The specific price targets indicated on Patel’s chart are more detailed than the $5K, $10K, $15K shorthand. The chart itself identifies $3,270 and $4,892 as the initial levels of interest, with $5,500 also flagged, before the path potentially opens towards $10,000 and then $15,000.
Market Performance and Volume
As of this report, spot ETH had seen minimal change over the preceding 24 hours. However, it was down approximately 1% for the week and roughly 44% below its price a year ago. Despite this, the cryptocurrency showed a notable gain of 31% over the past month, though this increase still left it 50% shy of its all-time high reached in August 2025.
Trading volume experienced a significant surge, climbing by nearly 28% in the last 24 hours to approximately $16.3 billion. This uptick in activity suggests renewed interest around the price level that Patel is closely monitoring.
Divergent Analyst Views
Offering a contrasting perspective, analyst NoName posted on Thursday, suggesting that ETH had just completed a “Wave 3 impulsive move.” According to their analysis, “the next phase of the structure should be a Wave 4 correction.”
NoName highlighted $2,324 as the initial support level to watch. They posited that a bounce towards the $2,784 to $2,966 range could occur if buyers successfully defend this level. Conversely, a failure to hold support could lead to a decline into the $2,112 to $2,222 zone. A daily close below $2,050 would invalidate this particular setup entirely.
Other market observers have also been focusing on the $2,500 to $2,550 area. Some anticipate a move towards $3,000 following a strong weekly close above resistance, while others are forecasting an initial retreat towards $2,000.
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