If the anonymous analyst Weslad is credible, Ethereum (ETH) is caught in a tug-of-war between two entirely different futures: a historic surge to $6,000 or a dismal drop to $1,800.

The market technician asserts that ETH is completing a massive ABCDE wave structure within a multi-year "symmetrical flag", which can only mean one thing: a breakout.

The Roaring Bull Case

In a recent analysis, Weslad explained that Ethereum's price action since its all-time high of $4,851 has formed a massive consolidation pattern. According to him, this structure is now approaching a critical inflection point known as wave D, testing its upper boundary.

At the same time, the Inverted Head and Shoulders (IH&S) bullish pattern is emerging on the daily chart, with the neckline serving as a stubborn resistance level near $2,855.

This technical convergence suggests a spring ready to unleash enormous energy into the market, prompting the analyst to clearly state:

"A confirmed breakout above the neckline [$2,855] could likely confirm both the IH&S and the breakout from wave D, setting the stage for a potential extended move towards the $6,000 target and beyond."

Weslad's bold target has found an ally in strategist Jeremy Fielder, who stated in a video posted on X:

"We are aiming for a price of $6,500 for Ethereum by the end of this year and then possibly $10,000 by early next year... Regulation is currently favoring cryptocurrency. That's all you need to know."

He bases his argument on the rapidly growing adoption of Web3 and favorable regulatory changes, dismissing detailed metrics in favor of a strong bullish trend.

Although not as lofty as Weslad and Fielder's targets, the $4,100 goal of market watcher Titan of Crypto is not far-fetched. His argument is based on Ethereum's successful recovery back within its important weekly trading range, noting that momentum is increasing towards the upper range.

The Bear Trap is Lurking

But don't celebrate just yet. Weslad's optimistic analysis also comes with a stern warning for the bearish scenario. He argues that if ETH faces rejection at the crucial resistance level of $2,855 or the upper boundary of the flag, the likelihood of a pullback to wave E is very high. He believes this trajectory would drag the price down to the "high convergence demand zone" ranging from $1,400 to $1,800. That represents a potential decline of 40% from the current level.