ETH Consolidation Breakout Imminent? Key Levels to Watch!

ETH has been trading within a clear consolidation range following a sharp downward move in early April. This sideways structure suggests the market is gathering momentum for its next big move. Let's break down the key elements on this chart:

Current Structure:

ETH has been consolidating between ~0.01836 support and ~0.01989 resistance.
Price has shown strong reaction near 0.01794, forming a potential bottom.
This range could act as an accumulation zone before a breakout.

Scenarios Ahead:

1. Bullish Breakout:
A clean breakout above the 0.01989 resistance (Zone 1) could trigger a rally toward the next resistance zone at 0.02082 (Zone 2), and potentially higher toward 0.02166 (Zone 3).


2. Retest Before Rally:
Alternatively, a quick dip back toward support followed by a strong bounce could confirm accumulation and set up for a breakout.

Support Zones:
Key support lies between 0.01794 – 0.01869. This area must hold to maintain the bullish setup.

Conclusion:
The chart signals that BTC might be preparing for a bullish breakout after prolonged consolidation. Watch for volume confirmation and breakout above the yellow consolidation box to validate the move.

Let’s see if BTC can break free soon — trade safe and stay alert!