Ethereum is holding near a key technical zone as two trader charts point to a possible breakout setup. The charts show ETH testing resistance, retesting an old downtrend line, and building patterns that could decide its next move. Ethereum Price Eyes $3,000 as ETH Chart Forms Three Cup and Handle Setups Ethereum traded near $2,282 on the daily ETH/USD chart on Coinbase, while a chart shared by Sky on X showed three possible cup and handle patterns forming below key resistance. The chart places Ethereum under the $2,389 resistance level. That zone has capped several upside attempts since March, making it the main breakout level for ETH price. Sky said some traders think ETH is “doing nothing,” but the chart shows three cup and handle setups building across recent price action. The post said these patterns could support a move toward the $3,000 area if Ethereum breaks higher. Ethereum Chart. Source: Sky on X The first rounded base formed after Ethereum fell sharply in February and found support near the $1,800 area. ETH then recovered toward $2,389 but failed to clear the resistance zone. After that, Ethereum pulled back near the $1,950 to $2,000 range and formed another rounded structure. Buyers later pushed the price back toward the same resistance line. The latest setup shows ETH trading just below that level again. Ethereum was near $2,282 on the chart, with the daily candle down 0.37%. The highlighted target zone sits between roughly $2,950 and $3,300. A confirmed daily close above $2,389 would be the first major breakout signal. However, ETH has not confirmed the move yet. The price still trades below resistance, so the next daily candles will show whether buyers can turn the setup into a breakout. Ethereum Chart Shows Breakout Retest Setup as Trader Points to Max Pain Move Ethereum’s daily chart shows price testing a major descending trendline after months of lower highs, according to a TradingView chart shared by Cantonese Cat on X. Ethereum Chart. Source: Cantonese Cat on X The chart shows Ethereum moving under a long downtrend line that started near the October high. Price later broke above that line in late April before pulling back toward the breakout area. Cantonese Cat said the setup could bring “max pain to most,” while adding that it was “just an idea.” The chart points to a possible fakeout or retest phase before a stronger move. The marked path shows Ethereum dipping below the breakout area first. Then, the chart suggests price could move sideways in a small consolidation before turning higher. The key area sits near the old descending trendline. If Ethereum holds around that retest zone, buyers may try to push price back toward the $2,500 area. However, the setup has not confirmed yet. A deeper drop below the retest zone would weaken the bullish structure and keep Ethereum inside a choppy range.
