🚀 ETH Price Compression Signals Imminent Move — $2,000 Breakdown or $5,000 Breakout?

Ethereum (ETH) is trying to retest local range highs after last week's market shakeout. Some experts expect the cryptocurrency to remain sideways for weeks before making a huge jump.

Ethereum Sees High Resistance

Ethereum tried to break $2,800 last week, reaching $2,879. The Iran-Israel tension caused a market shakeout, sending the cryptocurrency's price to its local range lows before rebounding over the weekend.

For the first time in three months, ETH has been trading between $2,400 and $2,680 since the early May market rebound, when it rose from $1,800.

The local range's opposition has rejected it four times in the previous month. Ethereum pricing has been consolidating between these two critical levels, compressing just around $2,800, according to market analyst Daan Crypto Trades.

The cycle has relied on this level as support and resistance since 2024. The trader calls this zone “the most important level on this entire chart by far,” saying every major retest has resulted in “a nice bounce” or “big dump.”

ETH “went on to really even further” following each support reclaim. Daan said its price range is "becoming quite a tight range for how long it's been trading here." You can see how critical this is and that a huge change is anticipated in the next several weeks.”

He predicted that a break over $2.8K and sustained support would lead to a rise to the cycle highs at ~$4K. If this range breaks, $2,100 “is the big high timeframe level to watch.”

Will 2017 Repeat?

Merlijn The Trader said that Ethereum is consolidating inside its current range after breaking out of a multi-month falling wedge, suggesting a huge jump.

He noted that “this pause often precedes a surge,” and that the RSI is retesting the breakthrough zone. The trader also remarked that ETH looks to be following its 2016-2017 blueprint with a similar structure.

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