Ethereum Gears up for Breakout, but Resistance Zone Poses Short-term Risk

Ethereum may be on the verge of replicating Bitcoin’s legendary 2020 surge, according to crypto analyst. His latest chart comparison shows ETH following a nearly identical structure to BTC’s pre-breakout phase — including a red resistance line, a sharp mid-cycle shakeout, and a re-accumulation period.

“Same structure. Same brutal shakeout. Same explosive breakout ahead,” Merlijn wrote. He highlighted that Ethereum, like Bitcoin back in 2020, appears to be “loading the cannon” just before a major move.

If the pattern holds, ETH could be preparing for a vertical run that mirrors Bitcoin’s rise from under $10,000 to nearly $60,000 in under a year.

However, short-term caution remains.

Analysis from crypto research firm MakroVision points to immediate overhead resistance in the $3,727–$3,965 range. Ethereum recently tapped this zone at around $3,730, where it began showing early signs of weakness. While the long-term trend remains bullish following a strong rally from the May lows, MakroVision warns that a pullback to $3,270 is increasingly likely if the asset fails to break above $3,965 convincingly.

“A pullback after a strong rally would be technically sound,” the firm noted. “However, a breakdown below $3,270 would raise the risk of a deeper correction.”

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At the time of writing, Ethereum trades around $3,650, still hovering near key resistance. Momentum traders are watching closely: a decisive move above $3,965 could open the path toward fresh all-time highs.

In the meantime, Merlijn’s message is clear: the structure is in place — and this may be the last opportunity to catch Ethereum before a potential breakout. As he put it: “You know how it ends. Just don’t miss it this time.”