No more sleeping for Ethereum! After more than a couple of weeks of boring and dull trading, the sleeping giant is awake. Strong buyers grabbed the opportunity to take Ethereum up beyond $2,200. In just seven days, prices skyrocketed by 32%. And what fed this inferno? The triumphant return of Bitcoin into six-figure territory has set the motion for the crypto market, with the Ethereum market on full throttle.
The daily chart for Ethereum says it all: “Time to go!” This surge is not a ripple, forget about Bitcoin. The tea leaves of technical analysis point to a full-blown long-term bullish riding.
$2,200 Breakout Confirms Strength, Analyst Declares End Of Bear Market
Ethereum crosses the historic level of $2,000! After weeks of lingering around a resistance, the buyers have finally made a technical breach, allowing the price of ETH to surge beyond a level that acted as a ceiling in late March and early April. Ernsting told TradingView that it was time to boldly state that the Ethereum bear market is dead!
The phrase “bullish breakout,” in other words, has been attached to this event by many analysts who are forcing that perception, with heavy trading volumes in support. On that note, the analysts expect the new rally to climb slowly on a long, long timeframe down to months. So, fasten your seatbelt.
In effect, this data is just beginning to unravel a prolonged move, one that sees Ethereum climbing without interruption on and off for months.
Earthshaking for the bulls! Caught in a now unstoppable panic, the bulls have further routed crucial resistance levels-the lows from August 5, 2024, and February 3, 2025, as some eagle-eyed TradingView analysts have pointed out. Much more importantly, Ethereum has broken free of price confinement in the form of a descending channel that has held opacity for many months.
This breakout was not merely a tiny flicker of light; it came roaring into life. A huge green candle was formed, gazed upon by a torrent of trading volume, thereby drying up the bears and crowning a new king.
“This is only the start,” the analyst wrote, adding that Ethereum’s path toward reclaiming its all-time highs is already underway.
$5,791 An ‘Easy’ Target, $10,000 Before 2026 ‘Doable’
MasterAnanda foresees a sharp rise in the price of Ethereum. His analysis presumes a stellar run-up to $5,791.78, powered by a big breakout with big money flowing in. He called the 1.618 Fibonacci extension target “easy”-a daring forecast fueled by intense bullish sentiment in the market at this time.
Ethereum Poised to Shatter Records: Is $10,000 Next?
Forget $4,878 – Ethereum is heading to the stratosphere, as the analysts estimate that prices may surge to $5,791 and thus surpass its all-time high into unclaimed territory. But this is just a warm-up. Hold on to your hats now because $10,000 Ethereum is no nightmare. It’s the likely place, if not in just a short couple years by 2025, backed by a tsunami of institutional interest and sheer retail fervor.
The Chateau of Ethereum goes down in a Fibonacci roadmap. Watch crucial skirmishes: $2,421, the 0.382 extension, is the first line of resistance. But the ultimate prize? $5,791, the 1.618 extension, a potential peak on this epic climb. Can Ethereum conquer these levels?
Forecasts steer of a $250 billion tsunami crashing onto the crypto shore. The opening salvo already buys into the market with $10-15 billion. The real party starts when the actual funds storm in, triggering a euphoric frenzy.
At the time of writing, Ethereum is trading at $2,395.
Featured image from Unsplash, chart from TradingView
Thanks for reading Ethereum Surge Above $2200 Says Bear Market Is Over Analyst Calls $5791 ‘Easy’ Target
