- ETH Forms Falling Wedge, Breakout Looms Near
- RSI at 62 Signals Strength Without Exhaustion
- $1,630 Breakout May Trigger Run to $2,500
Ethereum continues to move within a narrow price band between $1,540 and $1,630. Market activity remains muted, yet technical indicators and pattern formations suggest a breakout may soon occur. Traders are now monitoring key support and resistance levels, along with trend signals that could define ETH’s next move.
Descending Channel and Key Price Levels
Ethereum has been consolidating within a descending channel since January 2025. This structure reflects a series of lower highs and lower lows, with the price repeatedly testing the channel’s top and bottom lines.
The current price sits near the mid-range of this pattern, trading around $1,590. According to analysis prepared by LLuciano_BTC, Ethereum’s chart now mirrors a falling wedge—often seen as a bullish reversal formation.
A breakout above $1,630 could signal the start of a rally, potentially sending ETH toward the $2,500 level. On the downside, $1,540 remains the key support. If broken, the next level to watch is $1,475, which could open the door to further declines.
Momentum Builds as Traders Await Confirmation
Several technical indicators show ETH building momentum. The Relative Strength Index (RSI) is currently near 62, suggesting moderate strength without entering overbought territory. The Moving Average Convergence Divergence (MACD) has also printed a bullish crossover, supporting the case for continued upward pressure.
At the same time, Ethereum’s moving averages show mixed sentiment. The 10-day exponential and simple moving averages both sit near $1,607, while mid-range EMAs around $1,630 act as short-term resistance. Long-term indicators such as the 200-day EMA remain supportive near $1,960.
According to analysis prepared by Crypto_Goos, Ethereum’s current pattern aligns with previous setups seen in 2020 that led to sharp upside moves. With price compressing inside key technical zones and traders increasing leverage, a breakout above $1,630 could be the catalyst for a strong upward trend.
