rewrite this title Ethereum Holding Above Key Support On Daily Chart — Eyes Set On Breakout | Bitcoinist.com

Ethereum’s daily chart is showing signs of strength, with price action consolidating above the support level and momentum indicators holding steady. The structure suggests that ETH is building a solid foundation for its next move.

Break Above Resistance Could Trigger Fresh Rally

ARZTrader published an update on X, outlining that the Ethereum price is holding above the key support zone at $2,415. This level is acting as a solid foundation as the price consolidates below the 21 Exponential Moving Average (EMA). 

ARZTrader is watching closely for a daily close above the 21 EMA and the 2 Fair Value Gap (FVG) zones, signaling strong demand. If ETH confirms this clean break, ARZTrader expects a bounce toward the $2,740 to $2,900 range. With momentum building and technicals aligning, this could mark the beginning of Ethereum’s next leg up.

According to Whitewalker, Ethereum’s setup is bullish with a clean structure, and dips remain solid till the blue zone of $2,300 to $2,345, a support area that has consistently held. The next take-profit (TP) zone is between $2,914 and $3,014. 

If it breaks above that resistance range, Whitewalker expects momentum to carry ETH toward a larger target zone of $3,900 to $4,100. Currently, ETH is trading and stuck at the 50 and 200 EMAs resistance. However, if the Golden Cross is confirmed, ETH could move sharply to the upside.

Ethereum is approaching a critical moment on the daily chart as price action tightens near the apex of a massive megaphone wedge formation. ETH is pressing against key EMAs around the $2,500 level.

TWJ News mentioned that a breakout above this wedge could ignite a rally, with upside targets ranging between $3,000 and $4,000. However, a drop below $2,360 would invalidate the bullish momentum, while volatility is likely to surge ahead.

Range Still In Play — Breakout Levels Clearly Defined

Technical expert and trader, Daan Crypto Trades, revealed that Ethereum has moved back into the $2,313 and $2,736 after a flush to the downside that cleared out liquidity and stop losses placed below the range, as observed in the 4-hour chart.

Daan Crypto Trades points to $2,500 as the level where the majority of volume has been traded and also marks the mid-range of the structure.  As long as the price hovers around this area, the market remains balanced. A break above $2,500 could open the door for ETH to retest the $2,700 to $2,800 zone, which has been a resistance for too long.

Featured image from Getty Images, chart from Tradingview.com

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