As price continues to trade sideways, Ethereum (ETH) has reclaimed a crucial level, which could kickstart a breakout toward the $2,100 resistance. However, some analysts suggest that bulls need to take action or a 15% drop could be in the horizon.<\/p>\n
After successfully holding the $1,750 level as support, Ethereum has reclaimed<\/a> the key $1,800 resistance. The cryptocurrency has recovered nearly 20% over the past two weeks, hitting a one-month high of $1,873 at the start of May.<\/p>\n ETH currently registers a 1.92% increase from its monthly opening following its negative 1.95% April. Notably, the King of Altcoins could end a five-month red streak if it continues trading above the $1,807 mark in the coming weeks.<\/p>\n Amid the Tuesday correction, Ethereum retested the $1,750 level before jumping<\/a> back above the $1,800 mark. Analyst Micha\u00ebl van de Poppe noted that ETH is holding the recently reclaimed resistance and starting to bounce to confirm as support again, indicating buying pressure.<\/p>\n \u00a0As a result, the analyst considers that investors are \u201cabout to witness a big breakout\u201d to the $2,100 barrier in the coming 1-2 weeks. Reclaiming this level is key for Ethereum, as it was a key resistance ahead of its Q4 2023 breakout and served as a key support zone during the 2024 and early 2025 rally.<\/p>\n Analyst World of Charts highlighted<\/a> that ETH has been moving sideways between the $1,750-$1,870 price range after breaking out from its downtrend in late-April. And it \u201cseems like building up for solid breakout\u201d from its consolidation zone.<\/p>\n Per the post, a breakout from this range and confirmation of the level as support could send the cryptocurrency toward the $2,500 level, lost in February.<\/p>\n Market watcher Daan Crypto Trades pointed out that \u201cbulls would want to get a move going soon,\u201d despite ETH\u2019s price holding above the $1,750 support<\/a>.<\/p>\n The trader suggested that the altcoin could not stand another retest of this range, and if the level doesn\u2019t hold, a 15% drop could be likely.<\/p>\n \u201cif that level gives in, it can be pretty easy to see how it just \u201cBart moves\u201d back down to the $1500s,\u201d Daan detailed, warning that ETH could risk a new low if it falls below this level.<\/p>\n Nonetheless, he concluded that it is \u201cstill fine as long as it trades where it does but be careful if we\u2019d see a move & close below $1750.\u201d<\/p>\nETH\u2019s Price Risks Another Correction<\/h2>\n