The cryptocurrency market, especially Ethereum (ETH)$ETH

and Solana (SOL) is in a price stabilization phase, driven by broader trends. Ethereum is facing critical price points that could determine its future direction amid volatile market mood.

Crypto World analyst Josh notes that ETH has encountered significant resistance levels and that potential upside movements could occur if the bullish movement breaks through these levels. Ethereum has entered a consolidation phase, keeping its price within a narrow range, which highlights the cautious approach of the market. While minimal fluctuations have been observed in the ETH price over the past 24 hours, analysts predict that future price action will follow a similar trend to Bitcoin. A critical focus for Ethereum is the resistance area between $2,440 and $2,475, which stems from historical price momentum and has previously defined both support and resistance levels.

Major Resistance and Bullish Outlook

As Ethereum continues to move into this resistance zone, a breakout is needed for the bullish outlook to materialize. If ETH breaks out of the upper end of this range and manages to close a candle above $2,475, momentum could shift to the next significant resistance area between $2,550 and $2,580. A sustained breakout could open the way for a potential price rally for bullish traders.

Short Term Price Patterns: Double Bottom Pattern

In the short term, Ethereum’s price structure is signaling the development of a double bottom formation, commonly known as a W pattern. This technical formation indicates the potential for a price action recovery. For the formation to gain confirmation, Ethereum needs to break out of the local top of around $2,495, creating a clear path for a breakout scenario.

Strategic Price Targets for Ethereum

Once Ethereum breaks above $2,500, traders can set strategic price targets. The first target is estimated at around $2,630, representing a price increase of around 5.2%. The subsequent upward move could reach a major resistance level around $2,660, which corresponds to expectations of a 7% increase. However, if prices drop below $2,500, it could invalidate the bullish breakout and signal a potential trend reversal.

Solana’s Parallel Market Moves$SOL

Similarly, Solana is also showing parallel price developments, bouncing off key support levels between $137 and $142. At the same time, it is facing critical resistance levels between $152 and $154, followed by another resistance between $158 and $163. Like Ethereum, Solana is also forming a potential double bottom formation, with a break above $149 required for bullish confirmation.

Assessing Solana’s Upside Potential

If Solana manages to break above the $149 threshold, investors can expect a bullish target of around $163, which would represent a gain of almost 10%. Such moves can generate significant profits, especially for leveraged positions, and may attract the attention of aggressive investors in this competitive market.