Ethereum has been undergoing a short-term horizontal consolidation process recently. On the last four-hour chart, the price is in a tight range near $2,342. Analysts state that if there is a stable close above the $2,375 level, Ethereum may experience a rapid rise towards the $2,800–$3,161 range. This level, which stands out on both short and medium-term charts, is closely followed by investors.
Horizontal Movement and Critical Support Zones
In the technical chart shared by Na₿er, Ethereum appears to be moving sideways after its recent rise, regaining the important support area around $2,130–2,180. The green box on the chart shows the current consolidation range, while the price pushed the upper band of this range several times but pulled back again under pressure from the sellers. Red “X” signs indicate short position risks or possible stop-loss areas that may occur above recent peaks.
Na₿er emphasizes that four-hour consolidation can often pave the way for a volatile movement. In particular, he notes that the green-colored sudden increases in volume can be interpreted as buyers gradually accumulating positions during this period.
The red dashed line near $2,375 stands out as a decisive resistance. If Ethereum manages to turn this threshold into support, it is possible for the price to move towards the $2,800–3,000 range as existing short positions are closed and new purchases are added.
In downward movements, the lower band around $ 2,250 attracts attention. If this level is lost, there is a possibility that the price will retreat to the broader support area in the $2,130–2,180 region. This area worked as resistance a while ago and then paved the way for the price to rise.
Preparing for Action in a Daily Chart Squeeze
On the daily chart shared by Sky, Ethereum is seen priced in a tight triangle formation above major moving averages. Maintaining the high-low structure is considered as preparation for an upward movement. In the upper band of this structure, the region between 2,961 and 3,161 dollars stands out.
While the price is moving sideways after the recovery from the lows in February and March, the upper trend line continues to block breakout attempts. The resulting triangle formation usually appears before large and sharp price movements.
Sky suggests that Ethereum is poised to make an attack on $3,000 “quickly soon,” and its volume profile could also support this rise. When the price rises above the current tight area, it indicates a rapid rise in the area where transactions are relatively sparse.
In daily closings, the $ 2,460 level stands out as the critical threshold. If this level is maintained permanently, the possibility of acceleration towards the 2,961-3,161 dollar region will increase. Especially the intersection of this price range with Fibonacci levels creates a technically striking view.
Below, the main average levels that may support the price in the short term are $2,320 and $2,244. If it cannot be held here, the positive expectation in the technical outlook may weaken and the price may retreat to $ 2,070 again.
