Ethereum (ETH) Price Breaks Out From Descending Channel Pattern, Targeting $5791

After weeks of sideways consolidation and uncertainty, Ethereum appears to have flipped a major psychological and technical corner.

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After weeks of sideways consolidation and uncertainty, Ethereum appears to have flipped a major psychological and technical corner.

Bullish momentum in the past five days has caused Ethereum’s price action to surge past the $2,200 level with conviction, with the crypto rising more than 32% in the past seven days alone. The breakout comes as Bitcoin crossed the six-figure mark again, lifting the broader crypto market along with it.

According to technical analysis of Ethereum’s daily candlestick chart, this rally is more than just a reaction to Bitcoin; it is the start of a new long-term uptrend.

$2,200 Breakout Confirms Strength, Analyst Declares End Of Bear Market

Recent price surges have lifted Ethereum well beyond $2,000, a price level that acted as a ceiling in late March and early April. According to technical analysis posted on the TradingView platform by crypto analyst MasterAnanda, Ethereum’s bear market is finally over.

This comment was made in light of what the analyst called a real bullish action, coupled with really high volume in the past few days. This, in turn, confirms a very strong high in the coming weeks and days, where Ethereum will grow daily non-stop for months.

The recent rally has taken the price above the August 5, 2024, and February 3, 2025 lows, highlighted on a chart posted by the analyst on TradingView. The chart also shows that Ethereum broke free convincingly from a steep descending channel pattern that had been trapping its price for months.

The breakout is more apparent because a large green candle with unusually high trading volume marked the occurrence, lending credibility to the view that the bear phase is now over.

“This is only the start,” the analyst wrote, adding that Ethereum’s path toward reclaiming its all-time highs is already underway.

$5,791 An ‘Easy’ Target, $10,000 Before 2026 ‘Doable’

According to MasterAnanda’s analysis, the current rally could easily carry Ethereum to the 1.618 Fibonacci extension level, which comes in at $5,791.78. He describes this target as “easy” considering the strength of the breakout and the capital inflow that appears to be building behind it.

Reaching the $5,791 price target would translate to a breakout to uncharted price territories above Ethereum’s current all-time high of $4,878. But the prediction doesn’t stop there; a $10,000 Ethereum is likely before the end of 2025 due to institutional money and retail sentiment flooding into the market.

The chart shows Ethereum’s recovery path with various Fibonacci levels, showing resistance and retracement points ranging from $2,421 at the 0.382 extension up to $5,791 at the 1.618 extension.

The analyst noted that around $250 billion in capital could eventually flow into the crypto market during this wave, with $10 to $15 billion already in play. He argues that the euphoric phase will begin once the remaining capital enters.

At the time of writing, Ethereum trades at $2,395.