Ethereum Breaks Out of Consolidation Structure, Eyes Next Major Resistance Region

Ethereum has broken out of its multi-week consolidation structure, with prices now trading just below $2.5K after reclaiming several important resistance levels.

The daily chart shows a clear structural improvement, with ETH spending much of the summer consolidating between roughly $1.5K and $2K while remaining inside a descending channel.

The breakout was followed by an exceptionally strong impulsive move toward the $2.5K area, but momentum has cooled considerably from the initial breakout.

The former $2.1K resistance area is now the first major support zone, with a deeper correction potentially bringing ETH toward the $1.9K region or even the lower $1.5K zone.