Analyst Says Don’t Trade Until This Happens

The Ethereum price is currently locked in a narrow trading range of around $2,500, with momentum stalling despite the market’s bullish expectations. In light of this, a leading crypto analyst warns that current price action lacks the strength needed for a powerful upward move, urging traders to remain cautious. The analyst notes that without a clear breakout signal, entering the market now could expose investors to potential downside risks. 

$2,800 Breakout Key For Ethereum Price Bull Rally

A new analysis released on the X social media platform by market expert Daan Crypto Trades reveals that the Ethereum price has continued to trade within a well-defined price channel, currently holding above the $2,500 level at $2,527. The analyst emphasized that $2,800 remains the key breakout point that could trigger an Ethereum bull rally. 

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The market expert shared a chart highlighting that ETH remains confined between a “range low” of $2,313 and a high of $2,736, with multiple failed attempts to break out of this tight structure. The chart also shows that the mid-range level of around $2,519 has become a critical point of control. 

Despite a brief rally that pushed the Ethereum price above $2,570 earlier this week, the cryptocurrency was still unable to sustain the upward move, slipping back below the $2,519 level before recovering to its current price of around $2,527. Daan Crypto Trades explains that the reason for Ethereum’s sluggish performance is its continued struggle to establish a solid footing in the $2,500 price region. Given the clear price imbalance in this zone, the analyst advises traders to exercise caution before entering the market. 

Within this range, traders may encounter increased price volatility and potential fakeouts, both above and below the key support and resistance levels. Given the unstable market environment, Daan Crypto Trades suggests that until Ethereum breaks and holds above the $2,800 mark, traders are likely to face more sideways action and unpredictable price swings. A clean breakout above $2,800 could be the key to the start of a bullish trend, improving conditions for ETH and pushing it out of its present downtrend. 

ETH Four-Year Consolidation Sees An End

Market expert Mister Crypto has also shared insights on the current Ethereum price action. The analyst declared in a recent X post that ETH is on the verge of exiting a prolonged multi-year consolidation phase. His chart, which visualizes the cryptocurrency’s historical price movements, marks two key periods—a powerful 48x rally from 2018 through 2021, followed by a four-year horizontal consolidation range that spans from the 2021 top to the present day.  

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The analysis suggests that this extended period of range-bound movement could be a prelude to a potentially explosive bull trend, similar to the breakout seen in the past. In line with this, Mister Crypto marks a large open-ended “??X” label on his chart, suggesting the next breakout phase is imminent—though the precise magnitude is left speculative.

Featured image from Getty Images, chart from Tradingview.com