- Ethereum mirrors a 2023 bullish pattern with stronger wave structures, signaling a potential breakout toward the $10,000 level.
- Repeating Elliott Waves, curved bottoms, and long-term projections suggest Ethereum’s bullish cycle may extend through 2026.
- Strong support zones and rhythmic momentum indicators reinforce Ethereum’s setup for an explosive and sustained upward move.
Following the replication of a bullish pattern last observed in 2023, Ethereum (ETH) now looks ready for a breakout. At $2,723.58, ETH showed a minor decline of 0.35% on April 3. However, the current setup suggests potential for explosive growth. Analyst Javon Marks believes the formation signals a much larger move than before.
The data shows price action from 2023 with projections stretching into 2026. Wave structures based on Elliott Wave Theory dominate the analysis. Numbered waves—1, 2, and 3—appear repeatedly, suggesting repeating market cycles. This reflects the idea that Ethereum could soon complete its current wave before launching a new trend.
Historical Cycles and New Projections
Moreover, there are consistent momentum patterns across multiple timeframes. Rounded bottoms and projected channels hint at a long-term bullish setup. Dotted lines extending into future years suggest Ethereum might reach above $10,000.
Besides, key support and resistance zones strengthen the technical argument. These levels, mapped with horizontal lines, show strong price behavior in the past. Each cycle has ended with a breakout, and this could repeat.
Additionally, the momentum indicators at the bottom of the chart track price shifts precisely. Peaks and troughs align with wave numbers. The oscillation between overbought and oversold zones shows rhythm. This gives more confidence in the ongoing bullish trend.
Future Potential and Technical Outlook
The size of the current pattern dwarfs the one from 2023. Hence, if history repeats, the rally could be far greater. The analyst argues that Ethereum is setting up for a substantial move, with long-term targets in sight. Furthermore, the presence of curved bottoms and extended projection lines into 2025 and 2026 adds to the bullish case. These structural signals align with strong fundamentals and rising market interest.
