Ethereum Poised for 138% Surge to $5,791 as Analysts Predict Bullish Wave

Generated by AI AgentCoin World
Sunday, Jul 6, 2025 2:35 pm ET1min read
ETH
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Ethereum’s price action is poised for a significant surge, according to crypto technical analyst MasterAnanda on the TradingView platform. Over the past two months,

Ethereum
has been consolidating above the $2,425 support zone, which could be an accumulation phase preceding a major breakout. MasterAnanda’s analysis indicates that Ethereum is on the brink of its strongest bullish wave in years, with a breakout target starting at $5,791.

MasterAnanda’s weekly candlestick chart reveals a large ETH wedge pattern with consistently rising lows from June 2022 to April 2025. Price highs have remained relatively flat, particularly around the March and December 2024 peaks. Ethereum’s behavior since April has been characterized by low volatility and sideways movement, often a precursor to large market moves. Notably, its price dropped to as low as $1,470 on April 9 before quickly rebounding and forming a rounded bottom.

The analyst suggests that Ethereum is due for a major bullish wave. The current consolidation above trendline support is expected to give way to a powerful bullish wave. The target is a minimum of $5,791, based on the 1.618 Fibonacci extension. If Ethereum breaks above the resistance trendline, currently at $4,000, the price could reach $8,500 or higher in the longer term. This prediction is supported by improving fundamentals and current on-chain data showing accumulation through Spot Ethereum ETFs.

Crypto analyst Ted Pillows shared a related analysis on the social platform X, based on a Wyckoff accumulation pattern on ETH’s weekly chart. Pillows identified the selloff to the $1,470 low in April as the “Spring” phase of Wyckoff accumulation, followed by a successful “Test” of a September 2024 support around $2,145, and the gradual move back to resistance. According to his projection, Ethereum’s breakout will unfold in stages: a push to $3,000, a correction, a rise to $4,000 in Q3, and then the parabolic leg taking Ethereum above $5,700. This analysis aligns with MasterAnanda’s call for a minimum $5,791 target, suggesting that Ethereum may be on the verge of its own spotlight moment in the ongoing 2025 bull cycle.