Ethereum is showing renewed momentum after a period of lethargic price action — and one chart analyst says this could be the opening act of a much larger rally.
Crypto analyst Crypto Patel argues that a technical setup centered on a hidden “inefficiency” could drive ETH significantly higher. The setup hinges on a Fair Value Gap (FVG) zone between $2,475 and $2,634 — an imbalance left behind when ETH broke down earlier this year that price has not yet revisited. In technical analysis, these unfilled gaps often act like magnets when momentum returns, drawing price back to “fill” the gap before the next major move.
Recent price behavior supports that idea: Ethereum reclaimed the $2,300 area and pushed as high as $2,415, putting it within striking distance of the FVG. Patel’s read is that there’s a high probability ETH will attempt to fill the $2,475–$2,634 range in the coming days, which would be the first meaningful waypoint on a broader recovery.
Where the bullish thesis goes from there depends on a few defined levels. The bears were held off by a $1,750 support zone during the selloff — a base that underpins the current rebound. From here Patel outlines a three-stage structure:
- Stage 1: Reclaim and fill the FVG at $2,475–$2,634.
- Stage 2: Clear the Bearish Order Block at $2,900–$3,035. That zone was a major selling area in early February and turned previous support into resistance. A decisive break above $3,035 would invalidate the recent “lower-high” structure and flip momentum noticeably bullish.
- Stage 3: If momentum flips and is sustained, long-term targets become more aggressive — Patel cites a pathway toward five-figure ETH, with a long-term target above $10,000.
That upside case is not guaranteed. If ETH fails at the $2,900–$3,035 order block and is rejected near $3,035, the worst-case scenario would see price slide back into a range between roughly $2,000 and $1,500, keeping the bearish structure intact.
In short: the next immediate technical objective for Ethereum is the FVG around $2,475–$2,634. Clearing the larger $2,900–$3,035 order block would be the more consequential bullish confirmation — one that could kick off a broader altcoin rally and put larger targets, including a potential push toward $10,000 over time, back on the table. As always, traders should weigh risk carefully; technical patterns offer probabilities, not certainties.
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