- Ethereum breaks above $2,330 with intraday volume surging as short squeezes fuel continued momentum.
- ETH price respects a rising trendline, signaling strong bullish structure across multiple short-term intervals.
- Long-term ascending channel remains intact, with Ethereum rebounding sharply off May’s key support level.
Ethereum has climbed steadily since early May, gaining over $400 after rebounding from a key trendline support. The asset now trades above $2,330, with short-term and long-term structures both confirming bullish momentum.
Short-Term Trendline Supports Ongoing Rally
Ethereum’s recent price movement follows a sharp upward climb on short timeframes, aided by strong buying interest. The uptrend has produced higher highs and higher lows since early morning sessions on Binance’s 5-minute chart. Volume spikes have consistently followed breakouts, signaling strong buyer conviction at key resistance levels.
One chart shows clear intraday movement along a yellow ascending trendline. Daan Crypto Trades has provided additional insights, noting that this upward pressure coincides with repeated short squeezes. According to Daan Crypto Trades, traders using tight stops were forced out as Ethereum pushed through previous resistance around $1,930.
Source: Daan Crypto Trades
He highlighted that the chart structure reflects “up only” behavior during strong rallies, often ending in volatile upside wicks. The analyst also pointed out a key caution zone: a trendline break may trigger quick reversals. His commentary emphasized wider invalidation zones for those actively trading, given high volatility.
Besides price action, he noted that rising volume confirmed breakout strength through consolidation zones. Daan also advised using spot positions during parabolic moves for risk management. Ethereum peaked near $1,980 before retracing slightly while still respecting the ascending line.
Titan of Crypto Tracks Multi-Year Channel Structure
Titan of Crypto has presented a comparative analysis of Ethereum’s multi-year ascending channel that began in mid-2020. The structure outlines parallel trendlines that have consistently guided both resistance and support levels across multiple market cycles. The most recent bounce at the lower channel boundary occurred in early May 2025 and has since driven prices higher.
Source: Titan of Crypto
According to Titan of Crypto, Ethereum has respected this ascending channel through multiple tops and bottoms. He identified three key support interactions marked by blue arrows: June 2022, November 2022, and May 2025. Each produced strong upward movement, preserving the channel’s long-term bullish slope.
He also outlined four resistance rejections, with each interaction prompting a sharp correction from upper trendline limits. These touches occurred between 2021 and 2024, including Ethereum’s all-time high near $4,800. The current projection points to an upper boundary above $4,200, reinforcing the upside structure.
The analyst added that price action within the channel remains symmetrical, with volatility increasing during each cycle. His chart features a green arrow extending upward from the latest support touch, suggesting continuation toward the upper resistance. Ethereum’s current position near $2,340 holds firmly within this structurally bullish range.
