Ethereum's Massive Breakout Setup Sees $15K Target
Ethereum (ETH) is retesting a resistance line it has only reached twice before in 2021 and again around 2025, says trader Crypto Patel. This makes it the 'biggest breakout setup yet' for ETH, according to Patel.
Patel mapped a path toward $15,000 if the line breaks, with Ethereum currently trading near $2,500, less than half its all-time high. The chart shows a descending trendline from 2018 to 2021, marked by three lower highs before ETH broke out into that year's rally.
The same horizontal resistance capped the price at the 2021 peak and again near 2025. Patel called this zone the 'Best Accumulation Zone', which has caught every major pullback since, with a rising trendline running through it that ETH is still sitting just above, around $2,460.
The target ladder is more granular than suggested by Patel's caption, marking $3,270 and $4,892 as the first two levels, before the path opens toward $10,000 and then $15,000. Trading volume jumped close to 28% in the past 24 hours, a sign of fresh activity around the level Patel is watching.
However, some experts have expressed different views on Ethereum's prospects. Analyst NoName noted that ETH had just finished a Wave 3 impulsive move and wrote that 'the next phase of the structure should be a Wave 4 correction'. They pointed to $2,324 as the first support to watch.