ETH Gears Up for 8% Rally After Holding Key Support at $2,484Ethereum (ETH) is currently positioning itself for a potential bullish breakout on the 4-hour chart. After facing a period of mid-June consolidation and volatility, ETH has stabilized above the key support zone at $2,484โ$2,551, which previously served as a strong reaction level. This range has now been retested successfully, and price action suggests growing bullish pressure.
At present, ETH is trading around $2,552, holding just above the defined support, which has acted as both a psychological and technical base. The past few candles show reduced selling momentum and a pattern of accumulation that often precedes a breakout. Buyers are stepping in at higher lows, and this shift in structure could signal the beginning of a new leg upward.
The overall setup suggests that Ethereum is now in a classic breakout-retest formation. Volume, while still moderate, has started to pick up slightly, which strengthens the case for a continuation toward the upper resistance zones. The resistance lines at $2,666 and $2,761 represent short- and mid-term upside targets, both previously tested levels where price struggled to close above. If ETH manages to break past $2,666 cleanly, a move to $2,761 becomes increasingly likely.
๐น Trade Idea (Buy Setup)
โข Entry Point: Around $2,552
โข Stop Loss: $2,484 (placed just below the major support zone and recent reaction low)
โข Target 1 (TP1): $2,666
โข Target 2 (TP2): $2,761
โข Risk-to-Reward Ratio: ~1:3.16
โข Upside Potential: 8.26%
โข Downside Risk: 2.62%
This trade setup provides a high-probability long opportunity, with a clearly defined support zone backing the entry. The stop loss at $2,484 gives the trade sufficient breathing room while minimizing downside risk in case of short-term volatility.
There is also a second entry opportunity defined at $2,416, should the market dip unexpectedly before continuing upward. However, this entry is more aggressive and should be approached with flexible risk management โ the stop loss for this reentry point is not fixed and should be adjusted as per the traderโs individual risk appetite.
What further strengthens the bullish case is that this reentry zone aligns closely with a historical swing low that previously triggered a strong bullish reversal. If price tests this level again, it may offer a last-chance opportunity for buyers before a larger move unfolds.
The double target strategy โ TP1 at $2,666 and TP2 at $2,761 โ reflects realistic profit zones based on past price structure and market behavior. Both targets lie within resistance levels that saw significant reaction in recent trading sessions, making them ideal zones for partial or full profit-taking depending on price momentum.
In the broader context, despite ETHโs recent 10% drop, the assetโs ability to hold above the $2,480โ$2,500 region demonstrates resilience. This range now acts as a solid foundation from which bulls could initiate a breakout, especially if macro conditions (like BTC strength or positive ETH-related news) align in coming days.
In summary, Ethereum presents a clean long setup from $2,552 with targets up to $2,761, backed by technical support, improving volume, and a bullish price structure. A secondary entry is available at $2,416 for those with higher risk tolerance. If momentum builds above $2,600, ETH could rapidly revisit prior swing highs โ and this chart structure makes a compelling case for being prepared ahead of that move.
