Ethereum Surges 32% in a Week, Breaks $2,200 Mark

After weeks of sideways consolidation and uncertainty, Ethereum has surged past the $2,200 level, marking a significant breakout. This rally has seen Ethereum's price increase by more than 32% in the past seven days, driven by bullish momentum. The surge comes as Bitcoin crossed the six-figure mark again, lifting the broader crypto market along with it.

Technical analysis of Ethereum’s daily candlestick chart suggests that this rally is more than just a reaction to Bitcoin; it indicates the start of a new long-term uptrend. The recent surge has lifted Ethereum well beyond $2,000, a price level that acted as a ceiling in late March and early April. According to a crypto analyst, this breakout confirms the end of Ethereum’s bear market. The analyst highlighted a real bullish action coupled with high volume in the past few days, indicating a strong high in the coming weeks and days, where Ethereum will grow daily non-stop for months.

The recent rally has taken the price above the August 5, 2024, and February 3, 2025 lows. The chart also shows that Ethereum broke free convincingly from a steep descending channel pattern that had trapped its price for months. The breakout is convincing because a large green candle accompanied by unusually high trading volume marked the breakout, lending credibility to the view that the bear phase is now over.

The analyst wrote, “This is only the start,” adding that Ethereum’s path toward reclaiming its all-time highs is already underway. According to the analyst's forecast, the current rally could easily carry Ethereum to the 1.618 Fibonacci extension level near $5,791.78. He describes this target as “easy,” given the strength of the breakout and the capital inflow that appears to be building behind it. Reaching the $5,791 price target would translate to a breakout to uncharted price territories above Ethereum’s current all-time high of $4,878. However, the prediction doesn’t stop there. A $10,000 Ethereum is not only possible but likely before the end of 2025 due to institutional money and retail sentiment flooding into the market.

Ask Aime: What's next for Ethereum after its 32% surge?

The chart illustrates Ethereum’s recovery path with various Fibonacci levels mapped out, showing resistance and retracement points ranging from $2,421 at the 0.382 extension up to $5,791 at the 1.618 extension. The analyst noted that around $250 billion in capital could eventually flow into the crypto market during this wave, with $10 to $15 billion already in play. He argues that the euphoric phase will begin once the remaining capital enters. At the time of writing, Ethereum is trading at $2,395.