A widely followed crypto analyst on X is highlighting Ethereum’s (ETH) contained position in a four-hour channel for a potential major surge.

Pseudonymous crypto strategist Ali tells his 166,400 followers that Ethereum looks bullish after holding support at around $2,375.

According to the analyst, he sees Ethereum surging to as high as $3,000 if it takes out resistance at $2,570.

Despite the volatility over the past few days, Ethereum remains contained within its 4-hour channel.

Now that price has reached the lower boundary, I’m watching for ETH to rebound toward the mid-range and eventually the upper boundary near $2,570.

A strong 4-hour close above $2,570, backed by volume, could confirm a breakout and open the door to $2,700 and potentially $3,000.”

Earlier this week, Ali said hundreds of millions of dollars of ETH had been taken out of crypto exchanges, suggesting investors are looking to hold their Ethereum stacks long-term.

“$350 MILLION IN ETHEREUM LEAVES EXCHANGES