Ethereum has recently attracted attention by breaking above major descending trend lines on both daily and 6-hour charts. Top market analysts emphasize that if this breakout proves lasting, ETH could soon target $2,460 and, subsequently, $2,650 as significant resistance levels.
Breakout details on the daily chart
The latest charts reveal that the ETH/USD pair is trading near $2,379, having moved above a crucial descending trend line. Ethereum bounced back from its recent correction, which started from previous highs, by regaining ground in the support zone between $1,600 and $1,821. This recovery shaped an upward structure that has now approached the upper boundary of what analysts define as the A-B-C corrective wave.
Technical analysis points out that the 100% extension target for wave (c) of this rally aligns with $2,650. This price level, marked as $2,657 on the daily chart, is regarded as a key short-term resistance for ETH.
Analysts highlight that Ethereum closing above this significant resistance line for several days signals that buyers are gaining control of the short-term market momentum.
To sustain the rally, Ethereum needs to surpass the next resistance range between $2,617 and $2,957. Within this band, the 38.2% and 50% Fibonacci retracement levels are especially prominent. If bullish momentum continues, ETH could test $2,862, then $2,995, and in the case of a strong uptrend, possibly reach as high as $3,228.
Conversely, if Ethereum falls back below the broken trend line and loses its upward structure, there is a likelihood it could retrace toward the critical support zone between $1,821 and $1,600.
Short-term resistance and key scenarios
Another analyst reviewing the 6-hour chart on Binance notes that Ethereum has managed to rise above a short-term descending trend line. Following a strong rally in April, ETH moved sideways for a while, then pulled back from levels near $2,460 to test support in the $2,220–$2,260 region.
Currently, ETH is retesting the upper boundary of this consolidation range. Trading above the trend line indicates buyers are preparing for another breakout after days of muted activity. The analyst suggests that, for new positions, waiting for a successful retest after a breakout may be more prudent than buying on the first green candle at the weekly close.
Technical assessments indicate that as long as Ethereum maintains support above the broken trend line, the target of $2,460 remains valid.
If the retest fails and price slips below the trend line, Ethereum could return to the congested $2,300 range and test lower support bands. Holding the critical breakout level is crucial for the continuation of this upward move.
In summary, Ethereum is positioned near important price levels highlighted by two separate breakout structures in the current charts. Sustained closes above both short-term and daily trend lines could pave the way for ETH to reach the $2,460 and $2,650 resistance targets in the near term.
