Ethereum (ETH) is retesting a crucial resistance level amid its daily 3% recovery. The cryptocurrency has been rejected from this area since last month\u2019s market recovery, failing to continue its bullish rally. As its price continues its sideways trajectory, an analyst suggests that a 15% move is coming.<\/p>\n
Since its early May breakout, Ethereum has been trading<\/a> between the $2,475-$2,680 price range, failing to turn the range\u2019s upper boundary as support for nearly a month. Amid last week\u2019s market pullback, the cryptocurrency retraced around 11% from its three-month high of $2,788 to the range\u2019s lower boundary, bouncing from this area on Monday.<\/p>\n At the start of the week, ETH reclaimed the $2,500 mark and continued its recovery rally toward the $2,600 resistance<\/a>. On Wednesday, the King of Altcoins saw a 3.2% daily surge toward the local range high resistance before retracing to the $2,635 level.<\/p>\n Carl Runefelt from The Moon Show highlighted the cryptocurrency\u2019s recent performance, affirming that Ethereum is \u201cshowing confidence\u201d by staying inside a key formation in the daily timeframe.<\/p>\n According to the chart, Ethereum has been forming an ascending triangle since the May rally, with the upper line around the $2,680-$2,700 mark. Moreover, ETH\u2019s price has been compressing between the support and resistance lines, suggesting a potential 15% move if the price breaks out of the pattern.<\/p>\n Runefelt forecasted a surge toward the $3,100 level if the Altcoin reclaims the crucial resistance level. However, if the price is rejected once again from this level, the analyst considers that Ethereum could drop to the $2,300 support zone.<\/p>\n Crypto Bullet pointed<\/a> out a similar pattern on multiple ETH charts, suggesting that a 15%-20% breakout is imminent for the cryptocurrency. Per the post, the ETH Dominance is \u201cabout to break out\u201d from an ascending triangle pattern in the 12H chart, while the ETH\/BTC and ETH\/USD trading pairs are nearing the upper boundary of a one-month symmetrical pattern.<\/p>\n Analyst Crypto Jelle asserted<\/a> that once ETH reclaims the major resistance area, between $2,680-$2,850, \u201ceverything flies higher.\u201d Notably, a reclaim of this zone would send the cryptocurrency above its multi-year ascending support trendline, which was along amid the Q1 2025 retraces, and set the stage for a surge toward the cycle highs.<\/p>\n Meanwhile, Ted Pillows noted<\/a> that ETH\u2019s performance this cycle resembles Bitcoin\u2019s (BTC) price action in 2020. According to the analyst, Ethereum has formed four consecutive 2-week candles since the April 7 bottom, which mimics BTC\u2019s movement after the March 2020 crash.<\/p>\n \u201cThe similarities between BTC 2020 and ETH 2025 are just mind-blowing,\u201d he stated, suggesting that Ethereum could reach a new<\/a> all-time high (ATH) in the coming months if it continues to follow BTC\u2019s 2020-2021 trajectory.<\/p>\nETH Preparing For Liftoff?<\/h2>\n