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Ethereum’s ($ETH) price action will become the main leading indicator for the entire cryptocurrency industry in the coming weeks. This is according to popular trader DonAlt, who gained recognition in the community after predicting XRP’s more than 700% rally in 2024–2025.
According to the analyst, the daily chart of the second-largest cryptocurrency by market capitalization currently looks like the cleanest one on the market. Ethereum is displaying a textbook setup — the coin has entered a consolidation phase immediately after confidently breaking through an important resistance level.
“Cleanest chart in crypto right now. How $ETH trades is probably gonna be indicative of the rest of the market. So far it’s a clean consolidation after a breakout, exactly what you’d like to see,” DonAlt stressed.
Ethereum has gained 30% in half a month. What’s happening on the chart right now?
The trader began publicly building this position back on Aug. 13, when he openly stated that he was buying $ETH at $1,878, noting that he had “waited long enough.” Since then, the leading altcoin’s price has increased by more than 30%, adding around $600 by the time it entered its current consolidation phase.
Earlier this month, DonAlt also outlined long-term targets for Ethereum around $4,000, although he admitted that taking profit at $3,000 would be perfectly acceptable to him.
The current setup by DonAlt shows two key zones that determine the logic of the price movement. The $2,400 level has become the main support: after breaking above it, $ETH consolidated within the green accumulation range between $2,454 and $2,492. The main target for buyers remains the medium-term resistance level at $2,815.68, marked by the red line.
The current decline in volatility and $ETH’s ability to hold above $2,400 indicate that buyers remain in control, while the asset is accumulating volume ahead of a new directional move.
Whichever direction $ETH eventually takes after this period of calm, the rest of the altcoin market will follow
Source: cryptonews.net