Ethereum Solidifies as Accumulation Trend Develops – Is a New Price Rise Coming?

Ethereum is under pressure after failing to surpass the high of $1,874 established on May 1, a level that is currently acting as a strong resistance level. As the broader crypto market begins to heat up, Ethereum remains stuck in a narrow range, lacking the momentum to confirm a breakout. Currently trading above $1,800, ETH is at a crucial level where buyers must step in to defend the structure and push the price higher. Despite numerous efforts, Ethereum has yet to establish a clear direction, and market participants are becoming more cautious. This asset is still down over 55% from its peak in December, reflecting a prolonged period of weakness compared to other major cryptocurrencies. Without a strong push past the resistance level, Ethereum risks falling further behind. Top crypto investor Michael Van de Poppe recently shared a technical analysis indicating that Ethereum is still in an accumulation phase. According to Van de Poppe, ETH shows strong signs and is accumulating against BTC in the context, but needs confirmation through a decisive breakout at current levels. Until then, Ethereum remains constrained within a range and is vulnerable to volatility. With changing market sentiment and significant moves approaching, the coming days will be crucial for ETH's short-term outlook. Accumulating Ethereum: ETH/BTC Chart Indicates Upcoming Moves Ethereum continues to struggle below the $2,000 mark, unable to reclaim important resistance levels despite the broader market activity heating up. While ETH/USD remains directionless and is still trading 55% lower than its December high, a closer look at the ETH/BTC chart reveals something more constructive forming beneath the surface. Van de Poppe recently shared an analysis highlighting the clear accumulation structure forming in the ETH/BTC pair. After several months of continuous decline, the chart shows Ethereum breaking out of a descending wedge pattern and consolidating in a narrow range just below the important resistance level at 0.0195 BTC. According to Van de Poppe, this is a classic accumulation pattern, signaling that Ethereum may be preparing for a significant breakout against Bitcoin.

The chart also highlights a key demand zone around 0.0184 BTC—a zone that ETH has held multiple times. As long as this level is maintained, Van de Poppe believes that Ethereum can continue to rise higher and eventually push liquidity above the resistance level. A successful breakout could mark the beginning of Ethereum outperforming Bitcoin, a trend often seen during the altcoin expansion phase of a bull market. However, risks remain. The broader market is still heavily impacted by macroeconomic instability, especially surrounding US-China tensions. Currently, the bullish case for Ethereum depends on maintaining the current support level and breaking through the resistance level of 0.0195 BTC. If successful, this accumulation could lay the groundwork for a strong price increase. ETH price consolidates in a narrow range Ethereum is currently trading at $1,795.79 after dropping slightly from the local high of $1,874 reached on May 1. The daily chart shows that ETH is consolidating in a narrow range after recovering from an April low of nearly $1,500. However, despite this stability, ETH is still well below both the 200-day (SMA) simple moving average at $2,709.54 and the 200-day (EMA) exponential moving average at $2,437.55—indicating that the overall trend remains bearish.

While the bulls have managed to prevent a further decline, Ethereum has still not escaped the long-term downtrend. The inability to reclaim 2,000 dollars as support continues to restrict the price increase, and the volume remains modest in recent price action, indicating a lack of conviction from both buyers and sellers. The current structure supports accumulation, but ETH must decisively break through the resistance level of $1,875–$2,000 to change sentiment and confirm a trend reversal. If it fails to do so, the risk of a new pullback to the support level of $1,650–$1,700 will increase. Overall, Ethereum is at a critical stage. The longer it consolidates below the key moving averages, the more cautious the crypto market is likely to be. A breakout above $2,000 could trigger a new upward momentum and signal the overall strength of the market.