ETH repeats past 3 step cycle, rallying from $1,500 to $4,278, now targeting a breakout phase toward new highs.
$4,800–$5,000 acts as a key resistance; clearing it could lead to $7K–$10K, per Merlijn’s projection.
Analyst Rose eyes $4,706, $5,314, $5,986 as key upside targets after ETH breaks multi year resistance on weekly chart.
Ethereum may be nearing a key breakout phase after completing a recurring three step market pattern observed in past cycles. The structure, identified by analyst Merlijn The Trader, points to a potential move from $1,500 levels toward unprecedented highs. The pattern begins with a deep accumulation phase, followed by a mid cycle rally and pullback, before peaking in a strong upward breakout.
Accumulation Phase Resembles Previous Cycle Lows
In the 2018–2020 cycle, Ethereum declined from a peak near $1,400 to below $100 before a prolonged bottoming period. Similarly, after reaching nearly $4,800 in late 2021, prices fell to around $1,000 by mid 2022.
ETH/USD 1-week price chart, Source: Merlijn The Trader on X
The digital asset then entered a lengthy consolidation phase through 2023, forming what analysts describe as the foundation for the next market move.
Recovery and Pullback in the Mid Cycle
Following the 2018–2019 lows, Ethereum advanced to about $360 in 2019 before retreating again. In the current market, a comparable move occurred as the asset rose from roughly $1,000 to near $4,000 during 2024.
However, this rally failed to set new all time highs, leading to another correction. Analysts note that such retracements have historically preceded major breakouts in Ethereum’s price movements.
Breakout Zone and Key Resistance Levels
In 2020, Ethereum surged from around $100 to approximately $4,800 during its breakout move. Now in 2025, the asset has climbed from $1,500 to $4,278, as per the chart’s data.
Merlijn projection indicates possible upside toward $7,000–$10,000 if momentum matches the 2020–2021 phase. However, the $4,800–$5,000 range is a key resistance zone that must be cleared for continuation.
Further supporting the bullish outlook, analyst Rose reports that Ethereum has broken above a multi year resistance zone on the weekly timeframe. Rose targets a rally to $4,706, $5,314, and $5,986. Sustained movement above these points could place the asset into new levels.
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