Price Analysis

Ethereum Price Prediction: Emerging Pattern May Guide $ETH Recovery to $2000

A bullish breakout from $1745 monthly resistance would bolster the ETH price to escape the consolidation phase.
Published by
Ethereum Price Prediction: Emerging Pattern May Guide $ETH Recovery to $2000

The Ethereum (ETH) price shows a newfound recovery after bouncing off the $1,530 support level on October 14. This bullish reversal represents a 6.6% increase within two weeks, bringing the coin’s current trading price to $1,628. A closer look at the daily time frame suggests that this upswing could be part of a bullish reversal pattern known as a Double Bottom.

Also Read: Elevated US Treasury Yield Is Hurting Ethereum More Than Bitcoin, Here’s Why

Advertisement

Bullish Pattern Hints Upcoming Recovery

  • The formation of a double-bottom pattern set the ETH price for a significant rally ahead
  • Multiple support at $1500 indicates a high accumulation zone for traders
  • The intraday trading volume in Ether is $6.6 Billion, indicating a 34% gain.

Source- Tradingview

Over the past two months, the Ethereum price has been caught in a consolidation range between $1,745 and $1,535. While the short-term trend indicates sideways movement, these specific levels are significant as they contribute to the formation of a double-bottom pattern. Historically, such patterns occurring at key technical supports have often led to significant upswings. 

As of press time, the ETH price is trading at $1,630 and faces resistance at the $1,650 level, as evidenced by a high-wick rejection candle on the daily chart. A daily candle close above this minor resistance could propel the ongoing recovery by another 5.2%, challenging the pattern’s neckline at $1,745.

Breaking above this crucial resistance would provide more reliable confirmation of a sustained recovery, potentially pushing the price up to the $2,000 mark, a gain of approximately 14.5%.

[converter id=”eth-ethereum” url=”https://coingape.com/price/converter/eth-to-usd/?amount=1″]

Advertisement

Will ETH Price Hold $1500 Support?

While the near-term outlook for the ETH price appears bullish, it’s important to note that the existing corrective trend remains in place until the price breaks above the last swing high of $1,745. Should the ongoing rally face supply pressure at this neckline resistance, the prices could experience another rejection, leading to a continuation of the sideways trend. However, a long-coming support trendline currently hovers around the $1,500 mark and offers coin holders a safety net against major corrections.

  • Exponential Moving Average: The 50-day EMA slope moving around $1650 offers an additional resistance level against buyers.
  • Relative Strength Index: The daily RSI slope above 50% reflects a suitable momentum to carry price recovery.
Advertisement

Share
Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes

BONK price has drawn attention once again as its chart structure hints at renewed interest…

October 1, 2025
  • Price Analysis

Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth

Shiba Inu price has crashed in the past few months, moving from a high of…

October 1, 2025
  • Price Analysis

XRP Price Prediction After Ripple CTO David Schwartz Resigns

XRP price has shown renewed strength in the last 24 hours, recording a modest daily…

October 1, 2025
  • Price Analysis

SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism

SUI price has once again found strength at its ascending support, creating expectations for another…

October 1, 2025
  • Price Analysis

Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?

Chainlink price has attracted fresh attention after recent analyst insights highlighted key technical patterns. The…

September 30, 2025
  • Price Analysis

Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M

Dogecoin price crashed to an important support level as the crypto market pulled back. This…

September 30, 2025