Ethereum Price Retests Key Breakout Level As $10,000 Target Remains In Sight
You are here:Home/Cryptocurrency News/Ethereum Price Retests Key Breakout Level as $10,000 Target Remains in SightEthereum price has fallen back into a significant support level, failing to sustain the. . .
You are here:Home/Cryptocurrency News/Ethereum Price Retests Key Breakout Level as $10,000 Target Remains in SightEthereum price has fallen back into a significant support level, failing to sustain the breakout in place. Even though there is skepticism around the short-term retreat, the larger technical pattern is still indicating the possibility of a move to the $10,000-$12,000 region in the long run. Ethereum Price Tests Key Breakout Zone AgainOn July 18, a crypto analyst, Rod,highlightedthat Ethereum recently broke above the neckline in a cup-and-handle pattern, which is considered a bullish continuation pattern. However, the breakout did not last long and caused the price to drop again, retracing to the same level. The neckline was situated between $1,825 and $1,850 levels, which served as resistance many times before ETH broke out from it. When ETH reached almost the $1,930 level, it lost momentum, and now the coin is back at that level again. In case the buyers succeed in holding the neckline, it will mean that the previous resistance level has successfully converted into support. This development may help ETH rally back towards the $1,900-$1,950 price area, with $2,000 being the next major level of importance. Conversely, should the Ethereum price fall below $1,825, then the breakout will have been a fake-out signal. Consequently, prices will head towards $1,775, with the next level of significant support at $1,700. Also Read |Solana Price Signals Trend Reversal as Tokenized Equities Volume Hits New HighEthereum Long-Term Chart Still Points Toward $10,000Even with the latest dip, Ethereum is still trading closer to the lower boundary of a lengthy ascending channel that has formed the price trajectory of the token over the past few years. Another analyst, Centurion,pointed outthat Ethereum has successfully defended its weekly demand area from $1,537 to $1,683, after which it returned above its long-term trendline, suggesting that the previous decline below the support level was probably just a short-term event. The first step that the Ethereum price needs to take is to stay above the $1,700-$1,800 support range. If the asset manages to stay above that mark, then investors can expect buyers to move towards testing the price above the $2,000 mark and beyond. Success at these levels may see a resurgence of the Ethereum price to close in on the all-time high seen at $4,800. Should demand keep pushing up, the targets will be found at $6,400, and further up is the long-term channel ceiling, which projects a potential climb to $10,000-$12,000. Key Support Will Decide the Next MoveHowever, while the future looks promising, Ethereum needs to maintain positions above the key support levels. Should the Ethereum lose the $1,537-$1,683 buying zone, this will negatively affect the ongoing recovery phase, driving the asset towards the $1,200 area before a new attempt at recovery. At the time of writing, ETH is trading at $ 1,839. 84 with a 24-hour trading volume of $ 7. 27 billion and a market capitalization of $ 222. 05 billion. ETH price increased 1. 36% over the last 24 hours. At the moment, the Ethereum price is sitting at a critical crossroads. Maintaining the present breakout level will help in continuing the uptrend, but losing support will probably delay the move towards the five-digit long-term target. Also Read |BNB Price Holds $566 as Franklin Templeton’s $1. 5B Milestone Boosts OutlookThis article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice. AboutZagham AbbasZagham Abbas is a Blockchain Infrastructure Reporter at Tron Weekly with over five years of experience covering cryptocurrency markets, blockchain infrastructure, and digital asset regulation. His reporting focuses on core blockchain networks, protocol-level developments, decentralized finance ecosystems, and major assets such as Bitcoin, Ethereum, and altcoins. Zagham covers network upgrades, protocol changes, scalability developments, security incidents, and ecosystem adoption across leading blockchain platforms. He also provides market analysis, explaining how infrastructure updates and regulatory actions impact digital asset markets. His work delivers clear, fact-based reporting for both beginners and experienced readers. He holds a Bachelor of Arts degree and follows strict editorial and fact-checking standards at Tron Weekly. 🔗 Connect on LinkedIn