Eseandre Mordi
⬤ Ethereum is compressing inside a tightening triangle on the hourly chart, trading near $2,330 after a sharp rally from the $2,100 region. Analyst Sky flagged the setup, calling ETH "wound up for a massive move" and pointing to $2,450 as the near-term breakout target.
⬤ The price action shows a textbook continuation structure: lower highs contracting against stable support, while ETH holds above key trend indicators. A similar compression unfolded when Ethereum tested $2,400 resistance after rebounding from $1,700 lows, where supply absorption preceded the next leg higher.
⬤ RSI has pulled back from overbought territory, forming a short-term bearish divergence while price holds near its highs, a pattern consistent with consolidation rather than reversal. This mirrors the setup covered in Ethereum's bearish divergence near $2,300, where weakening momentum signaled a pause before continuation. Immediate resistance sits around $2,350, and a clean break above it opens the path toward $2,450.
⬤ Compression phases like this one have a strong track record of resolving into extended moves. When Ethereum broke $2,150 resistance with eyes on a $2,600 target, a comparable tightening pattern preceded the breakout. The outcome of the current range is likely to set the tone for ETH's short-term trend.
Eseandre Mordi
