Ethereum Price Eyes $2,300 as Double Dip Signals Turn Bullish
Ethereum Price Eyes $2,300 as Chart Signals Flash Bullish
The Ethereum price is trading near $1,700 today, and traders are watching two chart patterns that both point to more upside.
A small breakout on the daily chart has added fuel to the debate.
ETH sits at $1,704 at the time of writing, up 4.38% in the last 24 hours. That move added over $71 million in trading volume in a short window.
Futures volume over the past day reached $44.39 billion, while spot volume came in at $2.29 billion.
What is the Ethereum price doing right now?
On the daily chart, ETH broke above a falling trendline that had capped price since May.
The candle closed near $1,703, just above the $1,700 mark that acted as resistance for weeks.
The Bollinger Bands on are still fairly wide, with the upper band near $1,822 and the lower band near $1,522.
The 14-day RSI sits at 50.22, right in the middle of the range. That is neutral, not overbought or oversold.
Why does the TD Sequential signal matter for ETH?
A trader known as Ali Charts pointed to the monthly chart, where the TD Sequential indicator just printed a number 9 buy signal.
This tool looks for exhaustion in a price trend and flags spots where a reversal often follows.
The last two times this signal appeared on Ethereum's monthly chart, price rallied by 235.87% and then 182.29% in the following months.
Past performance is not a promise of what happens next, but the pattern has repeated before.
What is the double dip pattern traders are watching?
Another trader, Trader Tardigrade, flagged a separate setup on the 3-day chart called a double dip. This is when price dips twice near the same area before pushing higher.
The same double dip structure showed up in 2025, right before ETH saw a sharp rally.
A similar shape appears to be forming again in 2026, though the trader noted this is a developing pattern, not a confirmed one.
What do the derivatives and liquidation numbers show?
As per CoinGlass data, Open interest in ETH futures is at $24.11 billion, up 6.84% on the day. Options open interest rose 5.04% to $4.29 billion.
Rising open interest alongside rising price often means new money is entering long positions.
The long-to-short ratio on Binance sits at 1.5981, and top traders on Binance show an even higher ratio of 1.9104 by account count. This means more traders are leaning bullish right now.
Liquidation data tells a mixed story. Over the last 24 hours, $156.74 million in ETH positions were wiped out, and most of that, $140.16 million, came from short sellers.
In the shorter 1-hour window, longs actually took the bigger hit at $67.28K versus $1.25K for shorts.
Is $2,300 a realistic target for Ethereum price?
Some traders now point to $2,300 as the next area to watch if the breakout holds. This lines up with a prior support zone from earlier this year. No target is guaranteed, and ETH would need to clear resistance near $1,822 and then $2,000 first.
If the breakout fails and ETH slips back under $1,670, the recent bullish structure would come into question.
Disclaimer
This article is for informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency markets are highly volatile, and prices can rise or fall sharply without warning. Past performance of any chart pattern or indicator does not guarantee future results. Always do your own research and consult a licensed financial advisor before making any investment decisions
