Ethereum has broken out from a multi-year symmetrical triangle, signaling a potential price surge toward the $8,000 target zone.
Large holders accumulated over 1.80 million ETH last month, coinciding with strong price gains and increased trading volume.
Holding above $4,000–$4,200 is critical to maintaining momentum and supporting the next leg of Ethereum’s upward move.
Ethereum has broken out of a long-standing symmetrical triangle pattern, signaling a potential push toward the $8,000 mark in the coming months.
Long-Term Resistance Finally Breached
Market analyst Titan of Crypto reported that Ethereum has moved beyond a consolidation phase that lasted several years. Since its 2021 peak, ETH had been trading within narrowing boundaries — a descending resistance line above and an ascending support line below. The most recent monthly close saw the price move decisively above resistance.
Symmetrical triangles tend to remain neutral until a breakout occurs. When the move follows the prevailing trend, the expected target is often calculated from the triangle’s height. In Ethereum’s case, this measurement points directly toward $8,000. Analysts note that holding above $4,000–$4,200 would reinforce the breakout’s validity.
Large Holders Increase Accumulation
Crypto analyst Ali revealed that in the last month, whales purchased over 1.80 million ETH. This accumulation took place as Ethereum was building momentum toward its breakout. Such buying activity from large investors often signals long-term market conviction.
As of today, Ethereum trades at $4,194.60, posting a 7.73% gain in the last 24 hours and 19.25% over the past week. The daily trading volume stands at $40.76 billion, indicating strong market participation.
Path Toward the Projected Target
If Ethereum maintains its price above the breakout zone, analysts believe further gains are likely. The $8,000 target is derived from projecting the triangle’s height upward from the breakout level.
Market observers suggest that increased institutional interest and retail participation could sustain the current momentum. After years of compressed price action, Ethereum now appears positioned for an extended move, provided buying pressure remains consistent.
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