$ETH finally caught a bid! After grinding through a tight range for the better part of three days, Ethereum has officially staged a clean breakout. The foundation for this move was the heavy demand sitting between $2,277 and $2,300, which absorbed every bit of sell pressure and "slow bleed" the bears could throw at it.
On April 22, the price launched through the secondary demand block ($2,300–$2,320), hitting a peak near $2,420. Here is the breakdown of what to watch next.
The Technical Setup
While the breakout is legitimate, the move toward our target of $2,458 likely won't be a straight line. Markets move in waves, and ETH is currently consolidating near $2,395.
The Re-entry Zone: The previous resistance/upper grey zone at $2,300–$2,320 is now "unmitigated demand."
The Liquidity Sweep: Ideally, we want to see price dip back into this zone, sweep the liquidity sitting just below it, and then shift delivery back upward.
Health Check: Consolidation around the $2,394 level is a healthy sign, but a "tap and go" at the $2,320 level would provide the fuel needed for a sustained rally.