Ethereum, the second-largest cryptocurrency by market capitalization, could be on the verge of a structural change that could reach $2,900 if validated.
According to Ali, Ethereum has officially cleared the X-axis of the ascending triangle and broken through the key resistance level at $2,385. This paves the way for $2,900, the analyst added.
Ethereum $ETH You’re on your way to $2,900!
Ethereum has officially cleared the X-axis of the ascending triangle and broken through the key $2,385 resistance level.
This breakout is an important structural change. By moving $2,385 to the support floor, $ETH … https://t.co/NLesHeyzQH pic.twitter.com/Pi0H5ypcts
— Ali Charts (@alicharts) April 17, 2026
Mr. Ali pointed out that this price movement indicates a significant structural change. The analyst noted that Ethereum reversing the $2,385 support floor could invalidate recent sell signals and signal a continuation of the main trend.
With overhead supplies cleared, Ali said the technical goal for this formation is now $2,900. As long as Ethereum remains above the $2,385 breakout zone, the advantage will continue to lean in favor of the bulls.
Ethereum short-term price fluctuations
Ethereum rose to a high of $2,466 on April 17th, extending its recovery from the March 29th low of $1,937. $ETHThe price faced resistance at this level as sellers tried to halt the recovery. The Bulls continued to press and did not concede. $ETHThe price is under $2,300.
if $ETHThe price is holding above the highlighted $2,385 level and the recovery could extend to $2,900 and then $3,050. Such a move suggests that Ethereum may have bottomed at $1,742.
This bullish view will be invalidated in the short term if the price drops sharply below $2,300. That suggests the recent rally may have been a bullish trap. $ETH After that, it could fall to the $1,916 level.
Ethereum’s fundamentals remain intact
Ethereum processed a record 200 million baselayer transactions in the first quarter of 2026, following a multi-year U-shaped recovery in network activity.
Despite the surge in usage, Ethereum is still more than 50% below its August 2025 peak of around $5,000, demonstrating the disconnect between fundamentals and price.
In other news, Bitmine now has $4.87 million $ETH It is valued at $10.7 billion and is 81% of the way to its goal of owning 5% of the total. $ETH supply. Of this, Bitmine has staked $3.33 million $ETHabout 68%.
