Ethereum’s $2,468 pivot support signals strong buyer activity, building momentum toward the $3,904 resistance zone.
Bullish pennant formation suggests a potential ETH breakout, targeting $4,500–$4,800 if $3,900 resistance clears.
Weekly retest patterns reflect structural repetition, aligning with Ethereum's broader uptrend from early 2024 levels.
Ethereum has revisited major support zones, signaling potential continuation in its broader bullish market structure. During the time of writing, ETH traded around $2,648, hovering just above a critical pivot.
Weekly Retest Patterns Point to Bullish Momentum
Ethereum’s weekly price structure reveals a steady retest of former resistance zones that have flipped into support levels. These recurring validations mirror early 2024 setups, hinting at a larger structural repetition.
Market analyst Rekt shared a detailed technical analysis of Ethereum’s price behavior on the weekly chart. He highlighted a historical retest pattern forming around $2,196, supported by strong recovery moves during early and mid-2024. Ethereum reclaimed this zone in early January, triggering a rally toward the $3,904 resistance.
From the price reaction, he suggests the recent May 2025 rebound mimics that previous breakout, though on a slower timeline. Ethereum rallied from below $2,196 and broke above the $2,468 level, previously resistance, now turning into support. According to him, this pivot zone around $2,468 holds strategic importance in sustaining the ongoing uptrend.
In the context of this move, he outlines the bullish candle structure just above $2,648 as a sign of strong buyer presence. A green candlestick with rising volume confirmed positive market sentiment as ETH defended its structure. The red resistance near $3,904 remains a long-term target if momentum holds above support.
Daily Chart Reveals Pennant Formation With Breakout Potential
Another analysis shared on X by Moustache revealed Ethereum forming a bullish pennant pattern following a sharp upward move. This structure reflects compression and buyer-seller equilibrium, usually seen before aggressive price movement.
The setup showed Ethereum rallying from $2,900 to over $3,700 in late April, forming the pennant’s flagpole. The analyst’s schematic traced converging trendlines on the daily chart, capped at $3,900 and supported by rising lows.
Moustache confirmed that ETH respected the lower trendline during recent tests, keeping the pattern valid. No candle closed beneath that level, suggesting buyers are defending the formation. Support is aligned with the 20-day moving average, adding strength to the case for a breakout.
Based on measured projections, he expects the next move to push ETH toward the $4,500–$4,800 zone. Volume remained low during consolidation, a typical sign ahead of directional price action. The apex nears, and Ethereum must clear $3,900 decisively to validate the pattern.
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