Ethereum is trading near $2,260, with analysts watching a breakout above $2,300. Technical patterns mirror a 2025 cycle that preceded a 250% rally. Over $102 million in short positions were liquidated as bullish momentum builds, with derivatives volume rising sharply.
Analysts have identified a repeating breakout structure in Ethereum’s price as it trades near $2,260. The current pattern is similar to one observed in April 2025, which preceded a significant rally.
Trader Tardigrade stated he identified nearly identical pre-breakout formations on higher timeframes. He reported the same three-day consolidation pattern from last year is now visible on the weekly chart.
Analyst CyrilXBT stated Ethereum is testing the resistance zone between $2,250 and $2,400. A weekly close above $2,300 would indicate a trend change.
Technical indicators from TradingView show bullish momentum building. The 20 EMA is crossing above the 50 EMA, and the RSI is near 62 without being overbought.
Data from CoinGlass shows over $121 million in Ethereum liquidations occurred within 24 hours. Most were short sellers exiting their positions as the price rose.
Additional data from CoinGlass shows derivatives volume increased by over 34% to $66 billion. Open interest also rose by 15%, indicating new capital entering the market.
