Yesterday marked a notable moment in the cryptocurrency market. Bitcoin once again surpassed its all-time high, specifically the peak reached in May of this year—an event that historically tends to trigger momentum across other major cryptocurrencies.

One such asset is Ethereum, which was recently analyzed with a defined buy criterium.

Ethereum technical analysis

ETHUSD - 1 Day Time Frame

The current price setup may suggest that Ethereum could be positioned for further upside. Ethereum has considerable room for growth, and a return to its all-time high could imply a potential gain of nearly 80% from current levels.

For context, the basis for considering initiating long positions was built around two key elements: first, the initial sweep of Sell-Side Liquidity; and second, a confirmed daily close above a defined resistance zone—highlighted in orange on the accompanying chart.

Resistance zones are identified based on their placement within the broader market structure. When price closes above such a level, it can be compared to a climber reaching the final ridge before the summit. While the possibility of a setback still exists, the structural support built along the ascent—much like a climber’s harness—could reduce the likelihood of a sharp pullback.

Similarly, if Ethereum breaks above the final bearish threshold, the probabilities may shift in favor of continued upward momentum, in line with the dominant bullish trend. This could provide technical validation for a long bias.

Ethereum price target

The target remains unchanged: Buy-Side Liquidity levels, potentially extending to the current all-time high. However, those aiming for the full move may want to consider the significance of taking partial profits during the progression. This approach can help manage risk and secure gains even in the event of a market reversal.

Finally, disciplined risk management is essential. A cover Stop Loss order could be considered just below the internal low, as indicated on the chart. This may help maintain structured risk parameters from the outset of the trade.