Ethereum (ETH) continues to consolidate within a narrow trading band, with analysts pointing to mounting pressure that could soon trigger a decisive breakout.
According to DaanCrypto, the current price action is marked by strong absorption of wicks on both sides—a classic sign of market compression.
“Generally this kind of compression ends up in a large move once one side does give in,” he noted. “Once that move gets going, it’s usually not stopping anytime soon either.” Daan suggests waiting for a higher timeframe candle close above or below the current range to confirm the direction of the breakout.
Wyckoff Theory Suggests ETH Is Ready to Break the “Creek”
Adding to the bullish narrative, analyst Merlijn The Trader applies Wyckoff methodology to ETH’s current structure. He identifies Ethereum’s recent market behavior as passing through the Spring and Test phases—key points in a Wyckoff accumulation schematic.
Now, ETH is approaching what Wyckoff theory calls the “Creek” resistance line. “It survived the Spring. It passed the Test. Now it’s at the edge of the Creek… and ETH is ready to break free,” Merlijn stated.
The chart indicates a potential breakout area just above the $2,600–$2,700 zone, which, if cleared, could validate a transition into the next bullish phase.
Confluence Builds for Larger Move
Both technical analyses suggest ETH is coiling for a significant move. On one hand, DaanCrypto’s observation of wick absorption and tight ranges reflects building momentum. On the other, Merlijn’s Wyckoff framework supports a bullish reversal narrative as long as Ethereum maintains structure above the $2,000 support.
Traders are watching for a clean break of the $2,700–$2,800 resistance range as a potential launchpad toward higher levels.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/market/eth-price-trapped-in-tight-range-analysts-see-explosive-breakout-ahead/