Ethereum (ETH) is going through a period of consolidation, with no major price movements seen over the past day. Ethereum’s price action could also be in line with Bitcoin’s trend. Based on previous support and resistance levels, ETH faces resistance between $2,440 and $2,475, according to .

Confirming a breakout of this range and sustaining a candle close above it will be crucial for the bullish outlook. If ETH can break out and sustain above this resistance, we could see a rally to the next resistance level between $2,550 and $2,580.

Short-term price patterns

In the short term, the price action resembles the structure seen in early September. Analysts say ETH appears to be forming a double bottom pattern, also known as a W pattern. To confirm this pattern, ETH must break above the local high around $2,495 (around $2,500).

Price Target

Once a breakout above $2,500 is confirmed, the first target would be around $2,630, which would imply a possible upside of 5.2%. The second target would be around $2,660, which would imply a gain of just under 7%. A drop back below $2,500 would invalidate the breakout and could indicate a false move.

Solana Market Movements

Looking at Solana (SOL), the daily chart shows a similar trend. Solana is currently rebounding from major support levels between $137 and $142. However, it faces important resistance in the $152 to $154 range and further resistance between $158 and $163. Solana is also forming a potential double bottom pattern. Like Ethereum, Solana needs to break through $149 to confirm.

Price Target

If Solana manages to break above $149, a bullish target would be set at around $163, which would represent a potential gain of nearly 10%. For those using leverage, this could result in significant profits.