Ethereum Price Is Gearing Up for a Massive Breakout – Here’s What Traders Are Watching

By Afe Funbi

eToro

Key highlights:

  • Ethereum is holding at a crucial support zone and seems to be set up for big action.
  • ETH Chart setups are showing classic signs of accumulation, and things might be lining up for a breakout.
  • Big buyers seem to be stepping in, and if ETH keeps this up, we could be looking at a new uptrend soon.

Ethereum price eyes breakout as $2,518 zone holds strong amid technical accumulation signals

Ethereum is trading near $2,551 as of the latest daily close, while it consolidates above a well-defined support zone at $2,518. 

This price level has held firm across multiple retests, as it coincides with broader bullish formations that suggest ETH may be preparing for a substantial move upward.

ETH Chart patterns on both daily and 12-hour timeframes highlight structural shifts,  a breakout from a multi-month downtrend, and the development of a Wyckoff-style accumulation setup. 

These indicators, combined with key support levels and potential institutional activity, are aligning to create a possible bullish continuation into Q3 2025.

Ethereum charts show breakout from downtrend and wedge formation

Ethereum had been trending lower from February through to mid-May 2025, capped by an older declining trendline. The trend turned around in mid-May as ETH broke above the downtrend line with a powerful breakout candle, and caused a shift in momentum.

Since then, ETH price action has transitioned into an ascending broadening wedge, a structure defined by higher highs and higher lows, albeit with volatility. 

Support within the wedge has been tested twice and has held and confirmed a buyer presence. Resistance lies near $3,438, with the wedge pattern pointing toward potential continuation toward $4,000 and above.

At current levels, ETH is mid-structure, as it consolidates near $2,550. This suggests one more dip to retest support could occur before a breakout attempt toward higher resistance zones.

ETH accumulation, spring phase, and breakout targets in the Wyckoff sequence

A second analysis on the 12-hour chart shows ETH following the Wyckoff Accumulation model. Three key phases are visible: accumulation, manipulation, and the early stage of markup.

From late May to mid-June, ETH price traded sideways in the $2,520–$2,700 range, as it signals accumulation by large players. 

A brief dip to $2,440 in late June marked the spring phase, a false breakdown designed to trigger stop-losses and clear weak hands.

Following this, ETH recovered and now trades in the $2,570 range, while the breakout of a stage sets toward $2,930–$3,500.

A visual projection on the chart places the green breakout zone starting at $2,680 and extending to $3,500. This mirrors traditional Wyckoff markup dynamics and points to a bullish market structure.

ETH price holding support at $2,518 – Key resistance zones ahead

ETH Price action has repeatedly confirmed $2,518 as a critical support zone. This level was tested on June 6, again in late June, and most recently in early July. Each time, buyers stepped in quickly, defending the zone.

Above current levels, ETH faces resistance between $2,580–$2,600, followed by $2,680, where earlier rejection occurred. A confirmed close above $2,680 would signal the beginning of a higher leg.

Fibonacci extension zones from previous swings suggest targets at $2,930, $3,200, and $3,500 in the event of a sustained breakout. These coincide with previously marked resistance and consolidation areas on the higher timeframes.

Market sentiment aligns with technical breakout structure

According to a tweet, “Ethereum breakout loading – smart money is watching!” and pointed to higher lows, bullish momentum, and clean resistance ahead.

This sentiment is supported by volume activity and structure, and it indicates that larger players may be accumulating positions in anticipation of an upward move.

Another analyst noted that the ETH price continues to respect the $2,518 support zone, stating: “So far so good from the given ETH zone at 2,518.” 

Traders are watching this level closely, as it continues to serve as the foundation for short-term price stability.

Overall, ETH’s current consolidation above $2,518, alongside repeated rejections of lower prices and confirmation of key chart patterns, supports the idea that the asset could enter a new trend phase. 

However, to confirm a breakout, ETH must decisively clear the $2,580–$2,680 resistance zone with volume and sustain that move into higher levels.

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Source:: Ethereum Price Is Gearing Up for a Massive Breakout – Here’s What Traders Are Watching

Updated: July 8, 2025 at 3:55 pm
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