Ethereum Breaks Out After Years of Consolidation, Bullish Momentum Returns
Ethereum (ETH) has finally broken out after more than three years of trading in a tight range, sparking renewed optimism in the crypto market. For over 1,146 days, ETH struggled to stay above the $4,000 mark, but it has now made a clear move upward, signaling the start of a new rally. Analysts say this momentum could push ETH toward the $7,000 range.
ETH Surpasses $4,000 After Years of Struggle
Crypto analyst Mags shared a bullish update, suggesting Ethereum could reach $7,331. This aligns with the broader uptrend forming since ETH broke key resistance levels.
Before August, ETH had tried three times to break past $4,000 but failed each time. On its fourth attempt, it succeeded, marking a major technical milestone. Since then, Ethereum has stayed above $4,000, showing that buyers are supporting the price and paving the way for further gains.
Mags also highlighted a brief “fakeout,” when ETH briefly dipped to $3,800 before quickly bouncing back. This sharp recovery shows strong buying pressure and adds to the bullish outlook. Current trends suggest Ethereum could reach the 1.618 Fibonacci extension level at $7,331 in its next major rally.
Ethereum Holds Key Technical Structures
Another analyst, Galaxy, noted that Ethereum successfully retested important chart structures like the “V-bottom” and the long-standing triangle pattern from 2021. This suggests ETH is entering a new growth phase after years of consolidation.
Galaxy cautioned that the journey won’t be smooth, with possible dips and periods of sideways movement. Still, the overall outlook is very positive, and the current setup makes a five-digit ETH a realistic possibility in the future.
