ETH Breakout Setup Flags Potential $15K Target
Ethereum (ETH) is retesting a resistance line it has only reached twice before, in 2021 and again around 2025. Crypto Patel believes this makes it the 'biggest breakout setup yet' for the cryptocurrency.
The chart shows that if ETH breaks above this resistance level, it could lead to a path toward $10,000 and then $15,000. Currently, ETH is trading near $2,500, still less than half its all-time high.
This prediction is based on the fact that Ethereum has held its long-term accumulation support three times before breaking out into a rally in 2021. The current test of the resistance line is also being watched by other market watchers who expect a move toward $3,000 after a strong weekly close above resistance or a retreat toward $2,000 first.
The analyst places $3,270 and $4,892 ahead of this longer path toward $10,000 and $15,000 in his bullish ETH roadmap. However, not all experts agree with this prediction. Analyst NoName has offered a different perspective, noting that ETH had just finished a Wave 3 impulsive move and writing that 'the next phase of the structure should be a Wave 4 correction.'