Ethereum Breakout Setup Targets $15K as Price Tests Key Resistance Line

Ethereum's price is retesting a key resistance line for the third time since 2018, according to trader Crypto Patel. This setup could be the 'biggest breakout yet' for Ethereum, he claims.

The resistance line, which capped Ethereum's price at its peak in 2021 and again near 2025, is currently being tested by the cryptocurrency's price. If this line breaks, Patel predicts a path toward $15,000.

Patel's chart shows three lower highs before Ethereum broke out into the 2021 rally. The same horizontal resistance has been a barrier to price growth since then. However, the 'Best Accumulation Zone' below it has caught every major pullback since, with a rising trendline running through it that Ethereum is still sitting just above.

Other market watchers have different expectations for Ethereum's price movement. Analyst NoName thinks ETH has finished a Wave 3 impulsive move and should correct in the next phase of its structure. They point to $2,324 as the first support level to watch.