Ethereum Targets 161.8% Fibonacci Extension Amid Bullish Signals

A closely followed analyst, Master Ananda, has expressed a highly optimistic outlook for Ethereum (ETH), predicting a significant price movement backed by a breakout pattern visible on the long-term weekly chart. Since reaching its peak in November 2021, Ethereum has been trading within a descending triangle, but the formation of higher lows between 2022 and 2025 indicates increasing bullish pressure.

Ananda identifies April 2025 as a critical turning point, noting that ETH formed a rounded bottom at the $2,425 support level and quickly reclaimed it after a brief dip. This move marked the end of a year-long bearish trend that began in March 2024. Key resistance levels are now set at $3,068, corresponding to the 0.618 Fibonacci retracement, and the $3,800–$4,000 zone, which are seen as stepping stones toward a full breakout. Ananda's main target is the 1.618 Fibonacci extension, but he believes that strong fundamentals, including Ethereum ETFs and broader market recovery, could drive the asset even higher in this bull cycle.

“The fundamentals are getting stronger, and $5,791 would just be the beginning,” Ananda said, suggesting that much higher levels could be in play before the end of the year. This bullish sentiment is echoed by another prominent expert in the cryptocurrency space, who emphasizes Ethereum's pivotal role in the tokenization sector. The expert underscores that Ethereum is indispensable for anyone bullish on tokenization, highlighting its foundational importance in the digital asset ecosystem.

This expert's analysis identifies key resistance levels at $3,068, corresponding to the 0.618 Fibonacci retracement, and the $3,800–$4,000 zone. These levels are seen as crucial stepping stones toward a full breakout, suggesting a significant upward trajectory for Ethereum's price. The expert's bullish outlook is further supported by the broader market sentiment, with analysts predicting that Ethereum could reach $5,000 by 2026. This forecast is largely driven by the current momentum of Bitcoin, which has historically influenced the performance of other major cryptocurrencies. The expert's prediction aligns with the broader market analysis, which indicates that Ethereum's price could experience a parabolic move, similar to Bitcoin's previous surge. This optimistic outlook is bolstered by institutional interest, which has been a driving force behind Ethereum's recent price movements.

The expert's analysis also highlights the potential for Ethereum to reach the $3,000 level, citing on-chain and market activity as indicators of a potential breakout. This prediction is in line with the expert's earlier analysis, which identified the $3,068 and $3,800–$4,000 zones as key resistance levels. The expert's bullish stance is further supported by the current market trends, which suggest that Ethereum is poised for an explosive breakout. This sentiment is echoed by the expert's analysis, which identifies the $3,000 level as a potential target for Ethereum's price.

The expert's prediction is based on a comprehensive analysis of Ethereum's price action, which has been characterized by a series of bullish signals. These signals include the alignment of on-chain metrics and market activity, which suggest that Ethereum is on the verge of a significant price move. The expert's analysis also highlights the potential for Ethereum to experience a parabolic price move, driven by institutional interest and the broader market sentiment. This optimistic outlook is further supported by the expert's prediction that Ethereum could reach the $3,000 level, citing on-chain and market activity as indicators of a potential breakout.