Ethereum Price May Break Above $2,100 Soon According to Analysts

Ethereum is currently attracting attention as analysts predict its price may surpass $2,100 soon based on recent market movements.

Short-Term Indicators

Analyst Crypto Patel observed bullish patterns on the Ethereum chart.
Ethereum's price recently bounced off a mitigation block around $2,064, indicating strong buying interest.
Patel anticipates a target price of $2,128, identifying it as a swing high liquidity zone with clustered stop-loss and buy orders.
A stop-loss for this trade is set at $2,027 to limit potential losses.

Long-Term Potential

Analyst TimeFreedomROB noted similarities between Ethereum's current weekly pattern and past cycles from 2018 to 2020.
The current trading level near $2,060 follows a drop below $2,300 and tests a lower trendline around $1,800.
This support range of $1,800 to $2,000 has historically shown strong demand.
For an upward trend confirmation, Ethereum must rise above the $2,200 to $2,400 range.

As of now, Ethereum is trading at $2,064, having gained 6% over the past week. Its total market value is $250 billion, with $11.71 billion traded in the last 24 hours.