Ethereum, 9-year pattern ends... Surge or collapse?

▲ Ethereum (ETH) ©

An analysis suggests that Ethereum's 'Golden Triangle' pattern, maintained for 9 years, has finally entered a convergence zone, putting it at a crossroads between a major surge or a structural collapse.

According to cryptocurrency media Watcher.Guru on April 24 (local time), Ethereum (ETH) has approached the apex of a triangular convergence pattern that has continued since 2017, and its future price direction is expected to be determined by whether it breaks out.

Analyst Merljin the Trader explained that this pattern has endured the COVID-19 crash, the 2022 bear market, and the 2026 correction phase. As the current price is located at the tip of the triangle, it has entered a 'resolve' zone where the direction will soon be confirmed.

He suggested $4,350 as the breakout point for the upside, predicting that if this level is clearly surpassed, the measured target could extend to $10,000. Conversely, he warned that if it falls below $1,950, the 9-year-old structure could collapse.

Ethereum has recently been gaining attention as a key infrastructure with the expansion of the tokenization market, increasing its influence within the market. Amidst this trend, the long-term technical structure is also aligning, highlighting the potential for increased price volatility.

Meanwhile, CoinCodex predicted in its long-term outlook that Ethereum could rise to $2,886.35 in 2026, $5,427.29 in 2030, $9,015.90 in 2040, and $13,582 in 2050. The breakthrough of this triangular convergence pattern could be the starting point for such a long-term bullish scenario.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*