TL;DR:
- Following a severe correction in the market, Ether is consolidating in a technical triangle pattern.
- Analysts have identified an “widening diagonal” structure with a long-term price target.
- While the RSI is showing early signs of recovery, the $1,800 support remains solid.
operation Ethereum price heads towards $2,000 has been integrated into zones of high technological relevance and has attracted market attention. Following the significant decline, the cryptocurrency has formed a compression triangle on the daily chart, suggesting a move is imminent.
Currently, the token price is struggling to overcome the immediate resistance during the sale. Momentum stagnates. Investors are treading cautiously as valuations remain below old support levels, which now appears to be a psychological barrier that is difficult to break through.
Despite short-term uncertainty, longer timeframe analysis provides a much more optimistic outlook for Ether holders. Expert Gerd van Lagen points out that the asset follows a textbook pattern known as the “extended diagonal” that began in 2018.
Macro predictions: towards a historic breakout zone?
This technical structure will be implemented once the current integration phase is completed. Ethereum We may be entering the final bullish phase. Forecasting puts the end goal for this cycle in the following range: $9,000 and $18,000 per unit.
For this scenario to happen, it’s important to: Ethereum price establishes solid support base. For now, bridging the fair value gap between the two is $1,800 and $2,300 It appears to have provided the fluidity needed to stop the bleeding.
In summary, the RSI indicates a recovery from oversold levels, but the final direction will be determined by the top of the current triangle. The market is awaiting clear macroeconomic signals to validate this ambitious technical count and resume its growth trajectory towards new all-time highs.
