- Ethereum price shows bullish momentum as it reacts to a key mitigation block near $2,064.60, indicating strong institutional interest.
- Analysts compare Ethereum’s structure to its 2018–2020 cycle, suggesting a potential final shakeout before a strong upward move.
- Long-term projections indicate resistance levels at $3,600, $4,870, and a possible range between $6,000 and $7,500 if historical trends repeat.
Ethereum price is drawing fresh interest as analysts highlight technical patterns that indicate a potential move above the $2,100 mark. Recent assessments show a combination of short-term bullish trends and macro-level cycles that could support an extended rally if key levels remain intact.
Market analyst Crypto Patel has identified a bullish setup on the ETH/USDT chart, suggesting strong upward momentum. Ethereum has displayed a notable shift in market structure following a reaction from a key bullish Point of Interest (POI).
The altcoin is currently bouncing off a mitigation block near $2,064.60, signaling strong institutional demand. This zone represents an area where price retraced after a breakout, often used by institutional traders to balance prior positions before resuming the trend. Analysts note that this setup aligns with smart money principles, making the upper mitigation zone a potential entry point for long positions.
A price target of $2,128.12 aligns with a swing high liquidity zone, a level where stop-loss orders and pending buy positions cluster. A move toward this zone could allow traders to capture liquidity before a possible reversal. Patel has set a stop-loss at $2,027.20, just below the mitigation block, to manage downside risks.
FreedomROB has drawn parallels between Ethereum’s present price structure and its 2018–2020 market cycle. The comparison shows ETH recently breaking below an ascending triangle, a pattern reminiscent of its previous breakdown below a descending triangle before its major rally in 2020.
Ethereum price is currently trading near $2,060, having recently tested the lower diagonal trendline around $1,800. This level aligns with horizontal demand zones from prior years, suggesting it could act as a support base before another upward movement.
Potential Long-Term Price Targets Based on Historical Patterns
If Ethereum continues to follow historical cycles, further upside could emerge. In 2020, ETH surged nearly 40 times its value after reclaiming key structures. While current market conditions differ, projected resistance levels include $3,600, $4,870, and an extended range between $6,000 and $7,500.
Supporting these projections, analyst MAXPAIN suggests that ETH could briefly dip to the $1,900 zone before initiating a rally toward $3,000. His analysis, based on the TPO chart, highlights the $1,874–$1,924 range as a critical support and accumulation zone.
Ethereum is currently trading at $2,064.98, reflecting an 8.10% gain over the past week. The cryptocurrency’s market cap stands at $249.12 billion, with a 24-hour trading volume of $11.71 billion.
