Ethereum Surges 42% Mirroring 2024 Rally, Eyes $4,200

Ethereum has recently surged above the $2,800 mark, forming a significant green candle on its weekly chart. This breakout mirrors a similar pattern from February 2024, which resulted in a 42% rally, pushing the price towards $4,000. The current momentum suggests that Ethereum could potentially reach $4,200 in the coming weeks if it maintains its upward trajectory.

This week's price action is particularly noteworthy. Ethereum closed with a large green candle, surpassing both the highs of June and a critical horizontal resistance level. This resistance zone has historically acted as a barrier, and the current breakout is the first of its kind since early 2024. The strong weekly momentum indicates a bullish trend, with the potential for significant gains in the near future.

The pattern observed in July 2025 closely resembles the one from February 2024. During that period, Ethereum broke above the same resistance level, leading to a sharp 42% increase in price. The price moved from around $2,800 to nearly $4,000 within a few weeks. The current setup, with a big green candle confirming the breakout, suggests a similar upward movement. If Ethereum follows the same path, it could reach the $4,200 mark within three to four weeks.

In addition to the breakout candle, Ethereum's momentum indicators are showing strong bullish signals. Volume is increasing, and market sentiment has turned positive, with more traders expecting Ethereum to retest its all-time highs. However, the $3,000 level remains a crucial zone to monitor. Ethereum must hold above this level to maintain the bullish setup. Short-term pullbacks are possible, as breakouts often face minor corrections before continuing upward. As long as Ethereum stays above the breakout zone, the bullish trend is likely to persist.

Overall, Ethereum's weekly chart signals a powerful breakout, with the potential for significant gains in the near future. The pattern mirrors a proven 42% rally from 2024, and if momentum holds, Ethereum could hit $4,200 very soon. The increasing volume and positive market sentiment further support the bullish outlook, making Ethereum a key asset to watch in the coming weeks.