Ethereum is showing renewed momentum after a period of sideways action — and one analyst says this could be the opening phase of a much larger rally.
Crypto analyst Crypto Patel highlights a technical setup centered on a Fair Value Gap (FVG) — an unfilled price-imbalance left from Ethereum’s earlier breakdown. That FVG sits between $2,475 and $2,634, and Patel argues price is likely to revisit it as the market recovers. In TA, these inefficiency zones often “act like magnets,” drawing price back to fill the gap once bullish momentum returns.
Where ETH stands now
- Ethereum recently reclaimed the $2,300 area and printed a local high near $2,415, putting it within striking distance of the FVG. Patel gives a high probability that ETH could fill that gap up to around $2,634 in the coming days.
- The $1,750 level remains the key support underpinning the current recovery; it held during the prior selloff and forms the base of this bullish case.
Three-layer upside roadmap
1. Fill the FVG ($2,475–$2,634). This is the immediate target and likely first waypoint.
2. Break the Bearish Order Block ($2,900–$3,035). That zone, where heavy selling flipped previous support into resistance in early February, is crucial: a clean break would invalidate the recent lower-high structure and open the door to a broader uptrend and a potential altcoin rally.
3. Confirmed bullish momentum and longer-term upside. If ETH clears $3,035 decisively, Patel says long-term targets start to look much higher — he cites a scenario that eventually pushes ETH into five-figure territory above $10,000.
Risk and the downside path
- Failure to clear the $2,900–$3,035 order block would preserve the current bearish structure. A rejection up there could send ETH back into a $2,000–$1,500 trading range. Patel’s bullish outlook depends on a sustained break above that resistance; the upside is not guaranteed.
Bottom line
Short term, expect ETH to target the $2,475–$2,634 FVG as it builds momentum. The next critical test will be the $2,900–$3,035 order block — success there could flip the narrative to a broader altcoin rally and support much loftier long-term targets, while failure would keep ETH confined to lower ranges. (Chart/source: @CryptoPatel on X.)
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