Ethereum’s price structure is displaying technical changes that could trigger a major price movement. Multiple analysts are suggesting the second-largest cryptocurrency might challenge its previous all-time high of $4,878 in the near term.
Prominent cryptocurrency analyst DevKhabib highlights a critical moment for Ethereum as it retests a three-year trendline. According to his analysis, ETH faces a pivotal “jump or die moment” that could either push prices higher or trigger a retracement to $3,500. This technical junction represents a crucial decision point for the cryptocurrency’s near-term trajectory.
Another respected analyst, Satoshi Flipper, observes ETH’s movement within an ascending channel pattern on the 4-hour timeframe. The analyst notes that current prices are testing diagonal channel support, suggesting a potential move toward $4,400 if the pattern holds.
Garlinghouse Slams SEC’s Crypto War on 60 Minutes InterviewAnalyst Poseidon presents a broader view, pointing out that Ethereum is approaching a breakout from a 4-year, 1,460-day range. This extended consolidation period could set the stage for a major upward movement. It could potentially drive prices “far beyond your worst nightmares,” as the analyst puts it.
Bankless podcast host Ryan Adams expresses particular optimism. He suggested that a new all-time high could materialize within the next week. This prediction gains credibility from Ethereum’s recent breakthrough above $4,000, a level not seen since March 2024.
Mikybull Crypto’s analysis suggests a $6,000 target for ETH following a potential retest of current levels. Importantly, the analyst connects Ethereum’s performance to broader market dynamics, suggesting that its breakout could catalyze the next phase of altcoin season. A closer look at ETH’s price performance shows that the coin is down by 2.2% in the last 24 hours. ETH has surged close to 27% in the last seven days as per CoinGecko data.
The confluence of these analyses gains particular importance as Ethereum has recently shown signs of closing its performance gap with Bitcoin. This shift in relative strength could indicate a broader market rotation, potentially benefiting the entire cryptocurrency ecosystem.
