ETH just punched through a descending trendline that had capped its daily chart for close to twelve months. If bulls can keep price above the $1,850 $1,900 breakout zone, analysts are penciling in a three-stage recovery: first $2,350, then $2,950, and finally the $3,350 $3,500 resistance band.
What the Chart Actually Shows
Analyst Crypto Patel flagged the break on the daily timeframe, noting that the former resistance line now needs to flip into support. That flip is the whole story. Without it, the move looks like a wick into supply rather than a genuine trend change. A daily close back below the broken trendline reopens the path to $1,700 and potentially $1,550, erasing the entire setup.
So $3,500 is real on the chart, but it is also three separate confirmation steps away. Each intermediate level, $2,350 and $2,950, is its own hurdle. Buyers who front-run the full target before seeing those levels reclaimed are betting on a lot going right in sequence.
ETH/BTC Ends an 11-Month Losing Streak Against Bitcoin
The dollar chart is only half the picture. On the weekly ETH/BTC pair, analyst Ted points out that Ethereum has broken above its own 11-month descending trendline against Bitcoin. That matters because it signals a potential shift in relative performance, meaning ETH could start outpacing BTC even in a flat or sideways crypto market.
The immediate target on that pair is a reclaim of 0.03 BTC. Beyond that, 0.032 and 0.034 BTC come into focus. The invalidation is cleaner here too: a weekly close back under 0.028 BTC, and the broader downtrend against Bitcoin resumes. At current levels the pair is sitting right on the line, so the weekly close is the one number worth watching.
Both breakouts, the USD chart and the BTC-denominated one, are telling the same story at the same time. That alignment does not happen often. Whether it holds is another question entirely.
This article is for informational purposes only and does not constitute financial advice. Crypto markets carry significant risk; always do your own research before making investment decisions.
