What to know:
- Ethereum (ETH) price holds above key $1,549 support as a Wyckoff Accumulation pattern signals a possible bullish setup.
- A break above $2,465 resistance could trigger the next major rally, with one analyst projecting a $10,000 long-term target.
- RSI at 54.72 and price above the Bollinger Band midpoint suggest buyers remain in control despite weakening momentum.
Ethereum price manages to remain above an important technical support area despite the recent drop. The ETH is expected to hold on to its structure. According to a crypto analyst, Ethereum seems to be accumulating in a Wyckoff accumulation pattern, and all it needs is to break an important resistance area to kickstart the next leg up.
At the time of writing, ETH is trading at $1,824.23, down 3.27% over the last 24 hours. The ETH has recorded $20.84 billion in daily trading volume and holds a market capitalization of $220.15 billion.
Also Read | Bitcoin Price Holds Above $64K as ETF Inflows Reach $107.8M
Ethereum Wyckoff Pattern Signals Major Rally
A popular crypto analyst, Token Talk, shared a technical analysis for the long term on July 17, 2026, claiming that Ethereum is creating a clear Wyckoff Accumulation formation on the macro chart.
From the analysis, the build-up period might just be coming to an end since the next big push will only come if Ethereum succeeds in breaching the $2,465 resistance level.
According to the Token Talk, there may be potential for the breakout to pave the way for a target price of $10,000. Nevertheless, the prospect is subject to the ability of the cryptocurrency to remain above the $1,549 level of support. Otherwise, the outlook will not be favorable.
Wyckoff Accumulation pattern is extensively applied by technical analysts when trying to locate situations in which major players have been accumulating positions quietly before starting an uptrend. Even though the Wyckoff Accumulation pattern may have occurred in other financial markets previously, it does not necessarily mean that the price will move in any particular direction in the future.
Ethereum Price Continues to Hold Important Technical Support
Ethereum is trading around $1,821, sitting above the middle line of the Bollinger Band at $1,754. The top end of the Bollinger Band is at $1,946, while the bottom one is at $1,562.
Trading above the middle line indicates that the bulls are in control of the overall trend, even with the recent downtrend. The failure to move towards the upper Bollinger Band shows that the bullish momentum is slowing down after the current rally.
There are also signals of a slowdown from momentum indicators. The Relative Strength Index (RSI) comes in at 54.72, which is higher than the 50-neutral level. It implies that buyers still have an edge, but the RSI has gone below the signal line, indicating a weakening of momentum in the near term.
An increase in buying pressure may result in the cryptocurrency making another effort to test resistance levels. However, if momentum fades, consolidation will likely occur before a new move is seen.
Ethereum Price Nears Decisive Breakout Test
The next few weeks might be significant for the Ethereum price as it becomes evident whether the asset is able to hold support at key levels while having sufficient buying pressure to test resistance.
Ethereum price levels around $2,465 will continue to receive considerable attention from market participants as many believe that breaking the resistance area can signal a bearish trend in the long term, while failing to hold existing support can confine Ethereum to a certain range until the increased demand emerges.
Also Read | Ethereum Price Nears $1,900 as Whale Accumulation Builds Momentum
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Be the first to comment