Ethereum price action is prepare for a wave Epic proportions, according to the technical analyst Crypto Masterananda on the TradingView platform.
Ethereum has has spent the majority of the last two months Consolidate above the support area of ​​$ 2,425, in what could be an accumulation phase before a major escape. Nevertheless, Master’s analysis suggests that Ethereum is on the point of entering its strongest upward wave Over the years, with a target in small groups that starts at $ 5,791.
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Ethereum will be released at least $ 5,791
Master Chandelier weekly graphic shows a large ETH corner model with stockings regularly from June 2022 to April 2025. On the other hand, the prices were relatively stable, in particular around the peaks of March and December 2024. The behavior of Ethereum since April is marked by low volatility and lateral movement, which often precedes major market movements. The most interesting decision was when its price dropped as low as $ 1,470 on April 9 before rebounding quickly and establishing rounded background training.
However, the analyst noted that Ethereum is due to a major and major raised wave. The question is not to know if it will happen, but when it will. Now that current consolidation is just above support for the trend line, Masternanda maintains that this training will soon give way to a powerful upward wave. The objective is a minimum of $ 5,791, which is based on the extension of Fibonacci 1.618.
Interestingly, the analyst noted that it is possible that the Ethereum price reaches $ 8,500 or more in the longer term if it moved above the resistance trend line, which is currently $ 4,000. This prediction is supported by Improve fundamentals and current data on the chain showing ETHEREUM ETF.
Wyckoff’s accumulation says it’s Ethereum’s turn
Ted Oreads cryptographic analyst shared a separate But a related analysis on the X social platform based on an accumulation model of Wyckoff taking place on the weekly graph of ETH. The pillows called the sale at the lowest of $ 1,470 in April as a “spring” phase of the accumulation of Wyckoff, followed by a successful “test” of a support of September 2024 around $ 2145, and the progressive transition to resistance now.
According to its projection, Ethereum’s escape will take place in stages. The first step is a thrust at $ 3,000, then a correction, followed by an increase at $ 4,000 in the third quarter. It is only after these stages that the parabolic leg will really start. The parabolic leg, in this case, should take Ethereum above $ 5,700, if the price of the prices takes place as planned.
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His analysis is closely aligned with the Master’s call to a minimum objective of $ 5,791. Just like the Wyckoff accumulation model Pompey Bitcoin to his most recent summit of all time, Ethereum could be on the verge of his own projector moment in this bull cycle in progress 2025.
At the time of writing the time of the editorial staff, Ethereum is negotiated at $ 2,516.
Felash star image, tradingView graphic
