Ethereum Price Rebounds, Eyes $2,120 Breakout Target

Ethereum's price has been retesting its triangle breakout near $1,914 as Tom Lee flags that ETH sits just 3.5% below a technical level it hasn't broken since October 2025.

The Ethereum price analysis shows that ETH broke above the descending resistance line of a symmetric triangle in early July and is now retesting the broken trendline as support near $1,900 to $1,920.

Tom Lee said seeing the breakout play out 'would be good to see,' and analyst CW8900 flagged high leverage ETH positions clustered around $1,850 and $1,950 that could trigger forced liquidations in either direction.

The Ethereum derivatives volume fell 17.28% to $21.80B over the past 24 hours, but traders are still leaning bullish with a long/short ratio of 2.29 on Binance and 1.36 on OKX.