#ETHRally The native token of Ethereum, Ether (ETH), has risen approximately 24% this week to surpass USD 4,330, its highest price since December 2021. Many analysts are now pointing to a breakout above the record level of USD 4,950.

The Wyckoff pattern of Ether points to a target of USD 6,000

According to analyst Lord Hawkins, Ethereum is showing signs of breaking its prevailing Wyckoff accumulation pattern.

The ETH/USD pair has been trading within a broad accumulation range for months, steadily absorbing selling pressure. According to Wyckoff's theory, this phase usually ends with a decisive breakout once buyers gain control.

That breakout seems to be underway, with ETH surpassing the resistance zone of USD 4,200, a stage known as "Sign of Strength" (SOS).