Key takeaways:
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Ether runs into resistance at $4,000, but strong technicals and rising institutional demand could drive ETH into price discovery.
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Ether’s ascending triangle pattern targets an ETH price of as high as $16,700.
Ether (ETH) trades 23% below its $5,000 all-time high reached in November 2021, as the $4,000 level remains the key resistance to break.
Multiple analysts believe the largest altcoin is ready for a breakout that will usher in “its biggest move of the cycle.”
Ether technicals target a five-digit ETH price
ETH price has already risen by over 300% since establishing a cycle low of around $880 in June 2022. In doing so, its price has painted several chart patterns in the monthly time frame, suggesting an impending upside breakout.
Related: Ethereum at 10: The top corporate ETH holders as Wall Street eyes crypto
Popular crypto investor Ivan On Tech shared a chart showing Ether seeking a breakout from a symmetrical triangle, signaling a massive upward move once it is confirmed.
The measured target of the triangle was $7,709, or a 105% price increase from the current levels.
“Ethereum coiling up for its biggest move of the cycle,” analyst Bitcoinsensus said about Ether’s symmetrical triangle pattern on the monthly chart, adding:
“You are not ready for what’s coming.”
Popular crypto analyst Mikycrypto Bull shared a chart showing ETH price action has also formed an ascending triangle in the same time frame over a five-year period.
“Ethereum is set for a macro breakout. It will spark off a huge altseason if it happens,” the analyst said in a Wednesday post on X, adding:
“A very critical moment for Ethereum.”
The pattern will resolve once the price breaks above the triangle’s resistance line at $4,000. If this happens, the price could rise by as much as the maximum distance between the triangle’s trendlines.
That puts Ether’s breakout target for 2025–2026 at about $16,700, up by more than 350% from current price levels.
The moving average convergence divergence (MACD) indicator has produced a “bullish cross” on the monthly chart.
Previous instances show that ETH tends to rise sharply when the MACD line (blue) crosses above the signal line (orange). The gains were 2,000% during the 2020-2021 cycle and 130% in Q4/2023.
“Ethereum is setting up for a monster move, with a massive bullish monthly candle and fresh MACD crossover,”…
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