TLDR
- Two crypto analysts predict Ethereum could reach $10,000-$20,000 based on fractal analysis
- ETH currently trading at $2,062 as bullish momentum pauses due to Bitcoin consolidation
- Technical analysis shows higher highs and higher lows, signaling buyers attempting to flip bearish trend
- Key resistance levels at $2,100 and $2,166 need to become support to confirm bullish trend
- Spot Ethereum ETF outflows have been reducing, potentially adding to positive outlook
Ethereum, the second-largest cryptocurrency by market capitalization, is showing promising technical indicators that suggest a potential rise to five-digit price targets. Despite recent consolidation, pattern analysis and market dynamics have led some analysts to project significant growth for ETH in the coming months.
ETH is currently trading at $2,062 as of March 26. The price reached a daily high of $2,083 before settling down with a slight decrease of 0.35% for the day.
Bitcoin’s recent consolidation has caused Ethereum to pause its upward momentum. However, technical analysis indicates this may be temporary if BTC regains its bullish trajectory.
Fractal Analysis Suggests Major Upside
Two separate fractal analyses from crypto analysts point to ambitious price targets for Ethereum. The first analysis identifies a “1, 2, 3 bounce pattern” similar to what occurred in 2017, 2018, and 2020.
Following those three bounces, ETH moved from $100 to $4,900. If this pattern repeats, the price could reach $10,000 to $11,000.
The second analysis focuses on a declining broadening wedge pattern. This technical formation suggests a possible target around $20,000.
Analyst Gert van Lagen has identified a complex Inverse Head and Shoulder (iH&S) pattern on Ethereum’s weekly chart. This classic bullish reversal structure often signals the end of a downtrend.
$ETH [1W] bounces off the ~$1800-$2000 support range while having formed a complex iH&S structure, targeting ~$18k.
This support level acted as resistance during the 'head' phase. Now price successfully retested it as support.
Now the Left and Right shoulders are well-aligned. pic.twitter.com/909aRoeajD
— Gert van Lagen (@GertvanLagen) March 24, 2025
According to Lagen’s analysis, the left shoulder formed from 2021 to 2022. The head developed from 2022 to 2023, marking the cycle low.
The right shoulder has been forming in 2024, showing a higher low that aligns with the left shoulder. This technical formation supports the ambitious prediction of an $18,000 price target.
Technical Indicators Support Bullish Outlook
Daily chart analysis reveals successive higher highs and higher lows for Ethereum. This pattern signals growing buyer interest in flipping the bearish trend.
The key resistance levels to watch are $2,100 and $2,166. These need to be converted into support levels to confirm the start of a sustained bullish trend.
If these levels hold, ETH could attempt rallies of 20%, 28%, and 40% to reach resistance levels at $2,600, $2,770, and $3,000 respectively.
Ethereum has already tested the $2,100 level and is now retracing to find support. As long as it forms a higher low above $1,934, the bullish trend remains intact.
Supporting these bullish targets are CME gaps at $2,623, $2,888, $3,237, and $3,930. With continued buying pressure and Bitcoin’s macro bullish outlook, Ethereum could reach $4,000 by April.
However, if the price breaks below the $2,134 low, it would indicate that selling pressure is dominating. In this scenario, ETH would likely test the key support at $1,756.
A breakdown below this level would invalidate the bullish thesis and potentially send the price down to $1,500.
Additional Market Factors
Several other factors are adding to the positive outlook for Ethereum. Spot Ethereum ETF outflows have been decreasing since February 26 and reached zero on Monday.
If this trend continues and turns into inflows, it could provide additional support for ETH’s price.
According to CoinGlass data, approximately $701 million worth of short positions would face liquidation if Ethereum’s price reaches $2,114. These forced closures would require investors to buy back their positions.
This would add buying pressure to the market, further supporting the bullish case for ETH.
For the iH&S pattern identified by Lagen, the critical level to watch is the neckline at approximately $3,978. This serves as the primary resistance area.
If Ethereum can break above this resistance with strong volume, it could validate the pattern and open the path toward the projected $18,000 target.
Conversely, failure to break this resistance could result in extended consolidation or a significant pullback before another breakout attempt.
As with all cryptocurrency investments, traders should remain cautious and consider multiple scenarios in their trading strategies.
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