According to Deep Tide TechFlow news on July 21, as reported by Cointelegraph, analyst Gert van Lagen pointed out that Ethereum (ETH) is in the "final surge" stage and may move towards the $8000 price level. He found that the current price structure of ETH is remarkably similar to the bull market pattern of the Dow Jones Industrial Average in 1980.
This analysis is based on the "textbook-style expansion diagonal" pattern, which has provided strong support for Ethereum's major rebound since mid-2022. Currently, ETH is trading between the upper and lower boundaries of this pattern, with the potential to reach the upper boundary of around $8000 by early 2026.
Technically, ETH has re-established a multi-year uptrend line as support and is consolidating within an ascending triangle pattern. If it breaks through the resistance zone of $3900-$4150, it could trigger an increase towards $7150, approaching the target price of the horn pattern.
Analysts say macroeconomic factors such as the anticipated Federal Reserve rate cuts and ongoing ETH ETF inflows could support this upward trend.
