ETH Could Hit $2,400 on Breakout

Ethereum is showing signs of long term consolidation on the monthly chart while also pressing against a key resistance zone on the daily timeframe. Together, the two setups suggest ETH may be nearing a bigger move, but the breakout still needs confirmation.

Ethereum monthly chart points to possible re accumulation setup

A monthly Ethereum chart shared by Trader Tardigrade shows ETH trading inside a large parallelogram pattern that the analyst describes as a re accumulation phase. The chart compares the current structure with an earlier consolidation zone that appeared before a strong upward move. In both cases, price first advanced sharply, then moved sideways inside a slightly rising range before the next major leg developed.

Ethereum Re-accumulation Pattern. Source: Trader Tardigrade

The image suggests Ethereum is now in another high time frame consolidation period rather than in a clear breakdown structure. The marked range shows repeated moves between support and resistance, while price continues to hold within the broader pattern. According to the chart, the key signals to watch are tighter price compression, a reclaim of the mid range, and a successful flip of prior resistance into support. Those conditions would strengthen the case that ETH is building a base instead of losing long term structure.

At the same time, the bullish projection in the chart remains conditional, not confirmed. The large green path drawn on the right assumes Ethereum breaks out of the current range and then holds above it with follow through. Until that happens, the pattern remains a setup rather than a completed breakout. So for now, the main takeaway from the chart is that Ethereum is still moving inside a long term compression zone that could support continuation, but only if price clears the upper boundary and sustains momentum above it.

Ethereum tests key resistance levels after reclaiming major support

Meanwhile, a chart shared by analyst TedPillows shows Ethereum attempting to stabilize after reclaiming the $2,000 psychological support level. The analysis highlights a key resistance zone near $2,150, which the market must close above on the daily timeframe to confirm stronger upward momentum. According to the chart, that level sits just below a broader resistance band that previously acted as support earlier in the market cycle.

Ethereum Key Support and Resistance Levels. Source: TedPillows

The chart outlines a possible short term path where Ethereum could move toward the next resistance area around $2,400 if the breakout above the $2,150 level holds. This zone aligns with a previous consolidation region that later turned into resistance after the market declined. Because of that, the area represents a key test of whether buyers can maintain control after the recent recovery attempt.

At the same time, the analysis also shows downside scenarios if the resistance level rejects price. Several support zones appear below the current structure, including areas that previously acted as accumulation ranges. If the market fails to hold above the reclaimed level, the chart suggests Ethereum could revisit lower support regions before establishing a clearer trend direction.