Ethereum currently trades near $3,457, approaching the critical resistance level of $3,700 at the upper boundary of a multi-year consolidation triangle. This technical formation intersects with vital support around $1,400, forming a pivotal price range that has contained ETH for an extended period.
Analysts observe striking parallels between Ethereum’s existing structure and Bitcoin’s 2017–2020 market pattern. This historical precedent preceded Bitcoin’s major bull rally, with Ethereum now exhibiting a third consecutive bullish momentum crossover that mirrors Bitcoin’s indicator behavior immediately prior to its 2021 surge.
A decisive break above the $3,700 resistance could trigger significant upside movement, establishing $6,000–$7,500 as intermediate technical targets. Conversely, Ethereum must maintain support above $2,700 to preserve bullish momentum, with sustained weakness beneath $1,400 potentially invalidating the thesis.
This price behavior suggests Ethereum approaches an imminent inflection point. The symmetry between current technical indicators and Bitcoin’s pre-breakout characteristics strengthens the case for bullish resolution pending the key $3,700 challenge in coming sessions.