According to the latest technical analysis from expert MasterAnanda on the TradingView platform, Ethereum (ETH) is on the brink of entering one of the strongest price rallies in recent years. After several weeks of accumulation above the $2,425 support area, the second-largest altcoin in the market is showing signs of a major breakout – with the first target being $5,791, and potentially even higher.

Technical model: ETH is preparing to break out of the long-term accumulation wedge

MasterAnanda pointed out that Ethereum's weekly candlestick chart is forming a large ascending wedge pattern extending from June 2022 to April 2025. In this pattern, the price lows are continuously being raised over time – reflecting a gradually strengthening buying power. In contrast, the price highs are relatively flat, with two distinct peaks in March and December 2024.

From April until now, ETH has mainly fluctuated sideways with a low range, clearly reflecting an accumulation state. Notably, the deep drop to the $1,470 area on April 9 and the rapid rebound created a 'round bottom' pattern – which is considered a bullish reversal signal in classic technical analysis.

MasterAnanda commented: 'The issue is no longer whether Ethereum will rise or not – but when.' He believes that the current wedge pattern, along with the accumulation area above the uptrend support line, serves as a springboard for Ethereum to enter a price rally following the Elliott or Fibonacci model.

Short-term target: $5,791 – Long-term: $8,500 or more

The minimum target set by MasterAnanda is $5,791 – based on the Fibonacci extension level of 1.618 from the previous rally. However, he also notes that if ETH breaks through the strong resistance around the $4,000 mark (the peak of the resistance line in the wedge pattern), the price could reach the $8,500 area in the medium term.

This forecast is not only based on technical analysis but is also supported by fundamental factors, such as:

  • Capital is flowing into Ethereum spot ETFs,

  • On-chain data shows a strong accumulation trend from long-term investors,

  • Expectations for technological upgrades and the expansion of Layer-2 applications in the Ethereum ecosystem.

View from the Wyckoff model: ETH is about to enter the breakout phase

In parallel with MasterAnanda's assessment, analyst Ted Pillows provided an independent analysis on platform X (Twitter), based on the Wyckoff accumulation model forming on ETH's weekly chart.

According to Pillows:

  • The 'Spring' phase (final liquidation) was the drop to $1,470 in April,

  • The 'Test' phase (supply and demand testing) occurs around the $2,145 support mark (September 2024),

  • ETH is currently gradually approaching the resistance area – preparing for a breakout.

He forecasts that Ethereum will go through the following steps:

  1. Rising to the $3,000 area,

  2. Short-term technical correction,

  3. Breaking out to $4,000 in Q3 2025,

  4. Then entering a parabolic rise phase, pushing the price above $5,700, approaching MasterAnanda's target of $5,791.

Ted Pillows emphasized that the Wyckoff model once led Bitcoin to reach a new historical peak, and Ethereum may be preparing to enter a similar 'moment to shine' in the 2025 bull run.

Summary:

  • ETH is at a price of $2,516 – just above the long-term support trendline.

  • Two different technical analyses (Wedge pattern and Wyckoff) both indicate a strong bullish scenario.

  • Short-term target: $3,000 – $4,000,

  • Medium-term target: at least $5,791,

  • Long-term target: could reach $8,500 if strong resistance is broken.

With the convergence of technical analysis, positive on-chain data, and a market context heading towards a growth cycle, Ethereum is likely to be the focal point of the next growth phase in 2025.