Ethereum Poised for 47% Gain as Wyckoff Liftoff Phase Begins

Ethereum (ETH) is showing signs of entering the Wyckoff ‘Liftoff’ phase, a technical pattern that suggests a significant price increase is imminent. This phase is characterized by a period of accumulation followed by a sharp upward movement, indicating that Ethereum may be poised for substantial gains. The second-largest cryptocurrency by market capitalization is currently trading around the $2,500 mark, up 4.2% over the past week but down 19% on a year-over-year basis.

Crypto trader Merlijn The Trader noted that Ethereum appears to have cleared the key ‘creek’ and ‘spring’ phases of the classic Wyckoff Accumulation pattern. In Wyckoff theory, the ‘creek’ represents overhead resistance, while the ‘spring’ is a bear trap that wipes out weak hands. Once the asset emerges from the spring with strength, it can enter the ‘liftoff’ phase, marked by aggressive buying and rapid price appreciation. Merlijn’s analysis suggests that ETH could potentially aim for the $3,700 resistance zone. If bulls can push through this level and retest it as new support, a new all-time high could come into view.

Other analysts also weighed in on Ethereum’s potential. Crypto GEMs pointed to Ethereum’s setup mirroring its 2024 price action, suggesting that if this fractal holds, ETH could reclaim the $3,000 zone sooner than skeptics expect. However, not all analysts are bullish. Noted trader Carl Moon warned that Ethereum’s four-hour chart reveals a rising wedge, a pattern known for signaling downside risk. Unless ETH breaks decisively upward, Carl sees a possible pullback toward $2,200.

On-chain activity is adding fuel to the narrative. CryptoGoos highlighted that Ethereum’s daily transactions are nearing record highs last seen in 2021. Meanwhile, analyst Crypto Rover said active addresses have hit a new all-time high, calling ETH below $3,000 an “absolute steal.” Ethereum’s liquid staking metrics are equally robust, with 35.5 million ETH locked, a sign of long-term investor confidence.

As Ethereum enters this critical phase, traders are watching key levels closely. A confirmed break above $3,000 could validate the Wyckoff ‘Liftoff’ thesis, but failure to hold momentum could open the door for a deeper correction. The current technical setup has traders betting that a sharp reversal could be on the horizon, with the potential for Ethereum to reach new all-time highs.