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Ether (ETH) is forming a decisive ascending triangle pattern on monthly charts, with technical analysts projecting a breakout target of $16,700. The pattern emerges as ETH consolidates near the psychologically crucial $4,000 resistance level, 【23% below】 its November 2021 all-time high of $5,000.
Three distinct chart patterns suggest impending upward momentum: • Symmetrical triangle targeting $7,709 (105% upside) • Ascending triangle with $16,700 measured move • Monthly MACD bullish crossover preceding historical rallies
——This setup mirrors the 2020-2021 cycle when ETH surged 2,000% after similar technical confirmations—— notes analyst Merlijn The Trader. The current MACD crossover last occurred in Q4 2023, preceding a 130% price appreciation.
Spot Ether ETFs have recorded 【18 consecutive days】 of inflows totaling $5.3 billion since July 2, with cumulative net inflows reaching $9.6 billion. This demand surge contrasts sharply with Ethereum's annual issuance of just 800,000 ETH ($3.2 billion at current prices).
Corporate treasuries like SharpLink Gaming have acquired 【438,000 ETH】 ($1.69 billion), further tightening supply. Bitwise CIO Matt Hougan estimates annual institutional demand could reach $20 billion - six times Ethereum's new supply.
Traders identify two critical thresholds: 1. $4,200 breakout level confirming bullish continuation 2. $4,000 psychological resistance needing sustained volume
——Break $4,200 and ETH will rip like in 2021—— predicts Merlijn The Trader. The 2021 breakout saw ETH rally 300% in four months after clearing similar resistance.
Analysts highlight Ethereum's: • 300% gain from June 2022 lows • 【176% recovery】 from cycle troughs • First corporate treasury adoption among major cryptos
DeFi Dad projects a $30,000 price target based on Ethereum's expanding utility as institutional infrastructure rather than speculative asset. The coming months may prove decisive for ETH's market structure as technical and fundamental factors converge.