Ethereum is approaching a decisive phase that could unlock significant long-term price expansion. Higher time frame analysis provided by TradingView analyst suggests that despite current near-term weakness, Ethereum remains structurally biased towards: significant upward movement. If ongoing formation ends as expected, expected breakout puts Ethereum’s price well above $24,000.
Ethereum’s long-term structure remains intact
From a broader perspective, the analyst highlights that Ethereum has not broken its established trend since 2020. During this period, price action continued to make higher highs, reinforcing the view that long-term structure remains valid. Instead of signaling a failure, prolonged consolidation observed in recent years is defined as stabilization to a enormous and specific extent.
This range is between $1,000 and $3,000, with the $1,000 level being referred to as critical psychological and structural support. The analysis shows that the possibilities of Ethereum stay above this zone is central to the bullish thesis. Staying above this value allows the asset to continue to develop a massive ascending triangle, a formation often associated with sturdy continuation moves once it is completed.
In this trianglethe analyst outlines a clear progression of internal price phases. The two main legs of the structure have already been formed, and Ethereum is currently going through the final phase necessary to complete the setup. This phase has produced short-term bearish signals, but they remain part of a broader pattern rather than a structural breakdown.
As price approaches the lower boundary of the triangle, several layers of support converge. These include a rising structural trendline and key moving averages that have supported Ethereum’s price in the past. The analyst notes that stabilization and rebound are likely in this area, provided Ethereum does not break below the lower border of the triangle. Such a break would invalidate the structure, but current conditions suggest the risk is still circumscribed.
Why running away opens the door to $24,000
Bullish scenario depends on confirmation. Once the triangle is fully formed and Ethereum breaks above the upper boundary, the analyst expects the move to continue. Based on the size of the pattern and past market behavior, the expected expansion indicates a move of approximately 300% from current levels.
When applied to an existing Ethereum scope, the extension places this main bull target over $24,000. This projection is not presented as a short-term price incentive, but as a potential outcome of the multi-year structure eventually stabilizing upwards.
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Additional context reinforces this perspective. Ethereum continues to benefit from growing institutional participation, with the latest numbers at record highs stablecoin transfer volume exceeding $8 trillion online. These developments suggest an increasing reliance on Ethereum infrastructure, which could support sustained price expansion following a confirmed breakout.
Ultimately, the analyst believes Ethereum’s next major move will depend on how this happens the consolidation phase is coming to an end. If the structure holds and the breakout is confirmed, the path towards prices above $24,000 will become a technical continuation rather than an outlier.
Featured image created with Dall.E, chart from Tradingview.com
