Ethereum News Today: Ethereum's Technical Patterns Signal 80% Rally Toward $8,000 as Analysts Spot Final Bullish Phase

Ethereum’s price trajectory has captured renewed attention from analysts as technical indicators and market patterns suggest the cryptocurrency could be entering its final bullish phase ahead of a potential surge toward $8,000. Recent price movements have drawn comparisons to historical bullish trends, with some experts identifying a megaphone pattern—a broadening trend often associated with explosive price action. This development has positioned Ethereum as a focal point for investors scrutinizing its chart for signs of a breakout.

Market analyst Gert van Lagen highlights Ethereum’s current price structure as resembling a “textbook expanding diagonal,” a pattern frequently observed during significant upward cycles. According to van Lagen, this pattern aligns with the fifth wave of the Elliott Wave theory, a framework that divides market cycles into five distinct phases. The fifth wave, often termed the “blow-off top,” is characterized by rapid price growth, heightened retail participation, and strong bullish sentiment. Historical data indicates this phase typically marks the culmination of a long-term rally, with Ethereum potentially mirroring the 1980s Dow Jones Industrial Average’s final upward surge.

The immediate technical outlook also appears favorable. Ethereum has recently reclaimed a key ascending trendline and is consolidating within an ascending triangle. This pattern identifies a $3,900–$4,150 resistance zone as a critical threshold. A breakout above this level could propel ETH toward $7,150, representing an 80% increase from its current price. Analysts caution that a successful breach would signal a broader ascent, with projections extending to $10,000 if momentum persists.

Parallel technical analysis reinforces the bullish case. Another analyst, Ali Martinez, notes that Ethereum has been trading within a parallel channel for years, with $4,000 serving as a recurring resistance point. Despite three previous failed attempts to break through, Martinez argues that a successful breakout this time could unlock a path to $10,000. Supporting this view, on-chain data reveals a 16% rise in Ethereum holdings among “First Buyers” since early July, underscoring growing retail interest and speculative activity.

Macroeconomic factors further bolster the case for upward movement. The anticipated Federal Reserve rate cuts in the coming months are seen as a tailwind for asset prices, including cryptocurrencies. Meanwhile, inflows into Ether-based exchange-traded funds (ETFs) continue to inject liquidity into the market. Additional analysis from Consensys suggests Ethereum could reach $4,900 by year-end, with a longer-term target of $15,800 by 2028, though these projections remain speculative and not tied to current price performance.

While the technical and macroeconomic landscape appears aligned with a bullish scenario, investors are urged to remain cautious. The final wave of an Elliott cycle is historically volatile, with sharp corrections possible if sentiment shifts. However, the confluence of expanding patterns, retail participation, and favorable macro conditions has positioned Ethereum as a compelling asset for those anticipating a late-cycle rally. As the market approaches key resistance levels, the coming months could determine whether the $8,000 target becomes a reality or signals the peak of a prolonged bull run.