Ethereum (ETH) is showing renewed bullish momentum, with prominent analysts outlining a technical path that could propel its price to five figures. Crypto analyst Crypto Patel identified a critical Fair Value Gap (FVG) zone between $2,475 and $2,634, formed during a previous breakdown. This unfilled inefficiency acts as a price magnet, and Ethereum's recent push above $2,300 brings it within striking distance of filling this gap, potentially reaching as high as $2,634 in the near term.
The broader bullish thesis hinges on Ethereum holding the $1,750 support zone. The next major hurdle is the Bearish Order Block between $2,900 and $3,035, a significant resistance area from early February. A confirmed break above this level would invalidate the current lower-high pattern and signal the start of a wider altcoin rally. Failure here could see ETH retreat to a range between $1,500 and $2,000.
Analyst Ali Martinez corroborates the bullish outlook, noting that Ethereum has achieved a significant breakout by surpassing the $2,385 resistance of an ascending triangle formation. This level has now flipped to strong support, negating recent sell signals. Martinez identifies $2,900 as the immediate technical target, with sustained momentum above the breakout zone keeping bulls in control.
Should Ethereum successfully navigate these technical layers, Crypto Patel's long-term projection points to a potential rally above $10,000. Both analyses emphasize that while the structure is promising, the upside scenario is not guaranteed and depends on overcoming key resistance levels.
