Ethereum prepares for parabolic action – eth/btc chart strong bullish setting

Ethereum has remained resilient over the past few weeks, firmly maintaining critical support levels despite the broader market withdrawal. Although many Altcoins have been struggling to find directions, ETH is still trading above the $2,500 region – a level that has repeatedly become a solid foundation in times of uncertainty. Now, everyone’s eyes are above $2,800, a key resistance level that the Bulls must recover to confirm the breakout and reburst the bullish momentum.

The entire market is still in a health-preserving mode, with rising volatility and macroeconomic risks raising short-term confidence. But Ethereum’s structure remains intact, and price action continues to tend to accumulate rather than collapse.

Top analyst Carl Runefelt recently shared the bullish outlook for Ethereum’s ETH/BTC pair, highlighting the formation of textbook bullish Bandanant. According to his analysis, Ethereum is preparing for parabolic parabolic action once it breaks through the integration of this advanced framework. A breakthrough on the ETH/BTC chart is likely to signal Altcoin strength across the board, with Ethereum raising allegations.

Ethereum’s eyes breaks through after holding key support

Ethereum has conducted a 14% review since the last week of May, but despite a drop, it remains firmly fixed in the $2,400 support zone, a level that has been serving the floor during the most recent corrections. Although market sentiment has been shaking, Ethereum’s ability to maintain this structure has made analysts increasingly optimistic. Price action indicates mergers rather than weaknesses, and the Bulls prepare for potential breakthroughs for the upcoming meeting.

ETH is still significantly lower than its annual highs, but may be recovering. Now, the $2,800 resistance is a key obstacle to bullish continuation. Retrieving that level will confirm the breakout in the current range and open the door to retesting the $3,000-$3,200 area. Some analysts believe that this recovery could mark the beginning of Ethereum, catching up with Bitcoin’s lead, especially if it starts to gain power in the ETH/BTC pair.

Ununefelt recently pointed out that a bullish pennant was formed on the ETH/BTC chart, suggesting that Ethereum may be on the brink of parabolic action. The key level of viewing is about 0.026 BTC. As Ethereum tends to lead the way during the major Altcoin spin, the confirmed breakthrough could mark the beginning of the preseason.

Currently, ETH is at a critical crossroads. Holding the above $2400 shares provides a solid foundation for the Bulls, but needs to follow up. Breakthroughs in the US dollar and BTC pair will verify bullish cases and may trigger a wider upside potential for the entire Altcoin market. With the construction of power and the settlement of technical settings, Ethereum’s next move may shape the market direction in the summer.

ETH consolidates the resistance below as the Bulls defend $2,430 support

Ethereum trades at $2,516 in the daily time range, with consolidation volumes of less than key resistance (SMA) at the 200-day Simple Moving Average (SMA) and is currently $2,663. After a strong rally in May, ETH entered the lateral range and is now retesting the 34-day exponential moving average (EMA) to $2,431, a key level that was previously a springboard for the latest putters.

Despite multiple attempts, Ethereum still couldn’t surpass the $2,800 area, creating a clear horizontal resistance to the 200-day SMA limit. This repetitive rejection highlights the growing sales pressure at the top of the range. However, as long as ETH holds more than $2,430, the overall structure remains intact. Daily closures below this level may trigger a 100-day SMA of nearly $2,266 downside.

During this merger, the number dropped, indicating that both the bulls and bears lacked beliefs – this setting is usually before the breakout. If the Bulls can recover 200-day SMA, momentum may recover quickly, with the next key breakout level at $2,800.

Featured images from DALL-E, charts from TradingView

Editing process For Bitcoin experts, focus on thorough research, accurate and impartial content. We adhere to strict procurement standards and each page is diligently evaluated by our top technical experts and experienced editorial team. This process ensures the integrity, relevance and value of our content to our readers.