Ethereum

bullish

Daily

<p class="wp-block-paragraph">Ethereum (ETH) is showing strong technical signs of a short-term bottom reversal, with a projected surge to $2,163.&nbsp;</p><h2 id="h-ethereum-targets-2-163-following-double-bottom-completion" class="wp-block-heading">Ethereum targets $2,163 following double bottom completion</h2><p class="wp-block-paragraph">As shown in the chart below, ETH has clearly formed a classic double-bottom reversal pattern near the $1,510 support. Even more, just two days ago, the coin broke above the $1,842 neckline resistance after a period of consolidation. At press time, ETH was still sustaining this bullish momentum, trading at about $1,883 (+6.88% in the last 24 hours).</p><figure class="wp-block-image size-large"><img width="1024" height="620" src="https://image.coinpedia.org/wp-content/uploads/2026/07/15061734/18147.jpg" alt="Ethereum price analysis" class="wp-image-574452"></figure><p class="wp-block-paragraph">Source: <a href="https://x.com/TechCharts/status/2077108061332705576" rel="noopener noreferrer nofollow">Tech Charts</a></p><p class="wp-block-paragraph">According to veteran chartist Aksel Kibar, this setup projects an upside target of $2,163 – calculated from the pattern’s move from the double bottom to the neckline. It also follows a similar short-term bullish prediction made by the analyst just three days ago, indicating continued bullish momentum in the reversal.</p><p class="wp-block-paragraph">Further supporting this thesis is the rising multi-month trendline, which shows higher lows between February and May. This trajectory means buyers are consistently accumulating even as prices rise, further reinforcing the previously mentioned bullish thrust.</p><h2 class="wp-block-heading" id="recent-developments-fueling-upside-bias">Recent developments fueling upside bias</h2><p class="wp-block-paragraph">In addition to the above technical analysis, EthSystems, a spin-off from the Ethereum Foundation, recently launched as an independent for-profit research and engineering company. The Ethereum community expressed optimism for the event, as it signaled Ethereum’s commitment to providing blockchain privacy to heavily regulated institutions.</p><p class="wp-block-paragraph">Furthermore, today’s <a href="https://coinpedia.org/news/u-s-cpi-data-release-today-live-updates/" rel="noopener noreferrer nofollow">cooler-than-expected</a> inflationary data encouraged investors to flow into crypto assets. Other than retail investors, institutions continue to accumulate the coin, with Bitmine Immersion Technologies <a href="https://coinpedia.org/crypto-live-news/tom-lees-bitmine-buy-42197-eth-now-hold-4-8-of-ethereum-supply/amp/" rel="noopener noreferrer nofollow">now holding</a> 5.77 million ETH tokens (about 4.8% of the circulating supply).</p><h2 class="wp-block-heading" id="key-levels-to-watch-for">Key levels to watch for</h2><p class="wp-block-paragraph">Important levels to watch out for now include the $1,842-$1,850 double-bottom neckline resistance. A downside penetration below this threshold could invalidate the bullish setup.</p><p class="wp-block-paragraph">Additional resistance lies between $1,900 and $2,000, which marks the highs hit between May and June just before the sharp decline.</p><p class="wp-block-paragraph">Breaking above these two zones, coupled with rising trade volumes, would pave the way for the $2,163 target.</p>

ETH Price Eyes $2,163 Target as Double Bottom Completes on Daily Chart

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