Ethereum (ETH) price action could become the leading indicator for the broader cryptocurrency market in the coming weeks, according to trader DonAlt, who gained recognition after predicting XRP’s more than 700% rally in 2024–2025.
DonAlt said Ethereum’s daily chart currently offers one of the clearest technical setups in the crypto market. The second-largest cryptocurrency by market capitalization has entered a consolidation phase after breaking decisively above a key resistance level.
“Cleanest chart in crypto right now. How $ETH trades is probably gonna be indicative of the rest of the market. So far it’s a clean consolidation after a breakout, exactly what you’d like to see,” DonAlt stressed.
Ethereum gains 30% in two weeks as price consolidates
DonAlt began publicly building his Ethereum position on Aug. 13, when he said he was buying $ETH at $1,878 and had “waited long enough.” Since then, Ethereum has risen by more than 30%, adding roughly $600 before entering its current consolidation phase.
Earlier this month, DonAlt outlined long-term Ethereum price targets near $4,000. However, he also said that taking profit at $3,000 would be acceptable to him.
His current Ethereum chart identifies two key price zones that shape the market structure. The $2,400 level has become the primary support area. After moving above that level, ETH consolidated inside the green accumulation range between $2,454 and $2,492.
For buyers, the main medium-term target remains resistance at $2,815.68, marked by the red line on the chart.
Declining volatility and Ethereum’s ability to hold above $2,400 suggest that buyers remain in control. The asset also appears to be accumulating volume ahead of its next significant directional move.
According to DonAlt, whichever direction Ethereum takes after the current period of consolidation, the broader altcoin market is likely to follow.
