Ethereum’s multi-year technical structure is drawing increased attention from traders, as signs of a breakout begin to emerge after a prolonged consolidation period.
A closely followed analyst, Master Ananda, believes ETH is gearing up for a significant move, backed by a breakout pattern visible on the long-term weekly chart. Since topping out in November 2021, Ethereum has been trading within a descending triangle, but higher lows between 2022 and 2025 suggest mounting pressure from the bulls.
Ananda points to April 2025 as a turning point, when ETH formed a rounded bottom at the $2,425 support level and quickly reclaimed it after a brief dip. That move, he says, marked the end of a year-long bearish trend that began in March 2024.
Key levels now lie at $3,068 (0.618 Fibonacci) and the $3,800-$4,000 zone, which could serve as stepping stones toward a full breakout. The analyst sets his main target at the 1.618 Fibonacci extension but believes strong fundamentals — including Ethereum ETFs and broader market recovery — could carry the asset even further in this bull cycle.
“The fundamentals are getting stronger, and $5,791 would just be the beginning,” Ananda said, suggesting much higher levels could be in play before the end of the year.
