Will Ethereum Price Break $1,880 and Trigger A New Rally To $2,100 Soon?

Key Insights:Ethereum price is consolidating just below this level.A breakout could trigger an upside move toward $1,950 and $2,100.On-chain data shows heavy accumulation by investors, providing stability for ETH’s current structure.Ethereum (ETH) price has entered a critical phase as it consolidates just below a major resistance level at $1,880. After climbing above $1,800 last week and reaching a local high near $1,873, the asset has held its ground near $1,830 amid a slight uptick of 1% in the last 24 hours.While April ended with ETH price logging its fourth straight monthly loss, bullish momentum has resurfaced.Analysts are now closely watching whether the top altcoin can reclaim $1,880 and accelerate toward the next key resistance zones at $1,950 and $2,100.Ethereum Price Defends $1,800Ethereum’s current trading range has created a narrow but important battleground between $1,800 and $1,880. At press time, ETH price held steady at $1,812.99 following a modest rebound from its swing low at $1,734.The altcoin is now trading just below a short-term descending trendline, with immediate resistance at $1,835 on the hourly chart.According to The Kingfisher’s liquidation heatmap, dense short liquidation clusters lie between $1,835 and $1,870. These levels act as magnets for price, increasing the probability of volatility spikes.Above these zones, the $1,880 level remains the most significant hurdle. If bulls manage to flip this level, Ethereum price could face relatively little friction up to $1,950.Source: Kingfisher, XConversely, liquidity is also stacked on the downside around $1,800 and $1,780. A failure to hold $1,800 could cause the price to retrace toward deeper liquidity zones, intensifying short-term bearish pressure.On-Chain Data Shows Strong ETH Support Near $1,799Ethereum’s current consolidation zone is supported by robust on-chain buying activity. Data from IntoTheBlock confirms that over 6.36 million ETH were purchased by approximately 4.5 million addresses in the range between $1,772 and $1,824. This high concentration of wallets creates a strong base of support just beneath current levels.This range coincides with the 50% Fibonacci retracement level of the $1,734 to $1,873 rally. If ETH price dips toward this area, investors are expected to defend their cost basis by accumulating more tokens, helping ETH maintain structural strength.Analysts warn, however, that if this zone is lost, the next major support may not appear until $1,650, due to thin historical volume below $1,772. Despite the uncertainty in the broader market, this buying activity indicates growing faith in the top altcoin.Breakout Structure Resembling Bitcoin’s 2020 SetupMarket analyst Jackis compared Ethereum price structure to Bitcoin’s breakout formation in 2020. According to his view, ETH price is trading within a descending channel that closely resembles the accumulation range BTC formed before its explosive move past $20,000.Crypto analyst Jackis noted that if Ethereum price breaks this pattern, it could initiate a parabolic rally in the months ahead.Source: Jackis, XFurthermore, Crypto Tony also noted that $1,880 is the level that will determine a trend reversal. On the weekly chart, Ethereum’s last lower high before the downtrend was around this resistance. A breakout from here would create a confirmation of a new higher high.Source: Crypto Tony, XETH currently stands near the middle of its long-term channel, making the next few sessions pivotal in confirming whether it can extend the current leg up or see a selloff resume.ETH Price Targets $1,950–$2,100 if $1,880 BreaksFrom a technical standpoint, Ethereum price remains in a neutral-to-bullish posture. Breaching $1,880 could lead to upside targets at $1,950 and the psychologically significant $2,000 level. However, in the near term, if momentum kicks up a few notches, ETH price could reach $2,050 or $2,100, say analysts.Currently, the daily Relative Strength Index (RSI) is at around 56, meaning there could be more upside left before becoming overbought.As long as ETH price holds above $1,785 and maintains the $1,772–$1,824 support cluster, the structure favors bulls.Ethereum price is likely to show whether it is gearing up for another leg up or going back to lower support levels in the coming days.DisclaimerThis article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.Ronny MugendiThe post Will Ethereum Price Break $1,880 and Trigger A New Rally To $2,100 Soon? appeared first on The Market Periodical.