Ethereum’s price is skyrocketing! Recent price action suggests a potential massive rally, potentially pushing it far beyond its previous all-time high of $4,878 and even reaching $8,500.
The Current Bull Run Explained
Ethereum’s performance has been incredibly bullish lately. It’s up 20% in the last 24 hours and a whopping 45% over the past week! This surge has pushed its price to levels not seen since the 2021 bull market.
Technical analysis, specifically a pattern called a Right-Angle Broadening Formation (RABF), is pointing to this significant price increase. This RABF pattern, which has been developing since March 2024, shows a horizontal resistance zone (around $4,200-$4,300) and a downward-sloping support line. The fact that buyers are aggressively pushing the price towards the resistance is a key indicator. The last time Ethereum bounced off the support line (early April 2025, at around $1,470), it saw a 194% increase. Now, it’s attempting to break through the upper trendline.
Price Predictions and Key Levels
Based on the measured move principle applied to the RABF pattern, a breakout above $4,300 could initially send Ethereum to $6,370. However, strong momentum could propel it even higher, potentially to $8,500.
For this to happen, Ethereum needs a decisive daily close above $4,300 with strong trading volume. If this happens, the analyst predicts a rapid price increase, with only a brief pause around $5,100 before continuing its upward trajectory.
Conversely, if Ethereum fails to break above $4,300, support levels to watch are $3,700 and then $3,200.
Ethereum Outperforms the Market
Currently trading at around $4,320 (up 1.1% in the last 24 hours), Ethereum is significantly outperforming other major cryptocurrencies. Bitcoin, XRP, and Solana are all down in the past 24 hours.
