Ethereum’s price action this week has been very notable, with the leading altcoin breaking above $2,800 again for the first time in four months. Ethereum managed to break above the $2,800 mark for the first time since February, briefly touching $2,870 before pulling back slightly. 

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Two separate analyses by crypto strategist Crypto Patel on the social media platform X suggests Ethereum is now on the right track. The first, based on an 8-hour chart, highlights a rally toward $4,000. The second, using a long-term two-week timeframe, outlines a bullish setup that could send Ethereum soaring to $10,000 and beyond.

Ethereum’s Breakout From Sideways Consolidation Zone

In a recent analysis shared on X, a crypto analyst known as Crypto Patel highlighted Ethereum’s attempt to break out of its established range. Using the 8-hour candlestick chart, he pointed out how the Ethereum had spent many weeks since early May trading between clear support at $2,366 and resistance around $2,734. The breakout seen on the chart occurred just above this resistance zone, when Ethereum briefly pushed past $2,800 before facing some rejection.

If this breakout holds above $2,800, Ethereum could initiate a steep upward rally toward the $3,500 to $4,000 region in the coming weeks. Crypto Patel noted the importance of watching whether Ethereum sustains above the $2,750 breakout line, as a successful confirmation could trigger an influx of bullish momentum.

Ethereum’s To $10,000 In The Long-Term

In a follow-up post analyzing a much larger timeframe, Crypto Patel shared a two-week candlestick chart that mapped Ethereum’s longer-term structure since 2018. The chart revealed a well-defined bullish setup, including a bounce from a key bullish order block around $1,400 in April. This bounce acted as a support level, with the resulting candlestick being a bullish one that broke through another order block between $1,700 and $2,500.

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Patel pointed out that Ethereum is now showing signs of a long-term bullish continuation pattern. With support levels already locked in for the next bear market, the analyst projected a target above $10,000, citing a 438% upside potential from current price levels. The chart also marks $2,500 as a structural pivot point, with Ethereum’s ongoing upward trajectory expected to strengthen if this support level continues to hold.

Therefore, the path to $10,000 will depend on Ethereum’s ability to turn its recent resistance break into sustained momentum. The $2,800 region must now serve as a support base rather than a resistance ceiling. However, this has failed to really materialize in the past 24 hours, as Ethereum is currently down by a massive 9.6%. 

The ensuing price action has seen the leading altcoin now back trading within this consolidation range. Failure to hold above $2,500 could cascade to more losses over the weekend until it closes on $2,366 again and probably initiate another bounce from here.

Featured image from Getty Images, chart from Tradingview.com

After a somewhat sluggish start to 2025, the Bitcoin price has begun to impress in the year’s second quarter. The premier cryptocurrency reclaimed the $100,000 mark earlier this week and seems to be making a play for its all-time high price at $108,786 over this weekend.

The price of BTC appears to have flipped the switch in the market, with investors feeling that the world’s largest crypto market is back to where it was at the end of 2024. According to a popular crypto expert, the sell-side pressure experienced in the first few months of the year is all part of a broader price breakout.

Is BTC Following This Cup And Handle Pattern?

In a May 9 post on X, chartered market technician (CMT) Aksel Kibar shared an interesting update on his recent Bitcoin price analysis. The market expert revealed, in a late November 2024 post on the social media platform, a long-term breakout signal for the BTC price.

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Following the election victory of Donald Trump as United States President, the Bitcoin and crypto markets witnessed a significant amount of bullish momentum. Kibar highlighted that BTC, as a result of the post-election rally, was breaking above a significant price level on a large (monthly) timeframe.

As shown in the chart above, the Bitcoin price broke above its “minor high” around the former all-time high of $73,737 in November. Based on historical patterns, Kibar highlighted in his chart that the flagship cryptocurrency goes on a parabolic run whenever it surpasses the minor high in the cycle.

Interestingly, this November 2024 breakout has formed a cup and handle pattern, a technical analysis pattern that resembles a cup in the shape of the letter “u,” and the handle has a slight downward drift. The cup and handle is considered a bullish pattern, which signals the continuation of an upward trend.

In this particular iteration of this pattern, the price of BTC continued to rally after breaking the $73.737 till it reached a six-figure valuation. However, the Bitcoin price witnessed a severe correction to around $74,000 after reaching its current all-time high in January. 

However, it appears that Bitcoin only witnessed a minor pullback to the “minor high” before resuming its primary upward trend. In this scenario, Kibar put the cup and handle target for the market leader at around $137,000, which represents an over 33% rally from the current price point.

Bitcoin Price At A Glance

As of this writing, the price of BTC stands at around $103,071, reflecting a nearly 1% increase in the past 24 hours. According to data from CoinGecko, the market leader is up by more than 6% on the weekly timeframe.

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Featured image from iStock, chart from TradingView