Ethereum is approaching a decisive phase that could unleash a major price increase in the long term. A higher timeframe analysis shared by a TradingView analyst suggests that despite current short-term weakness, Ethereum remains structurally positioned for a significant upward movement. If the current formation goes as expected, the expected outbreak puts the price of Ethereum well above $24,000.
Ethereum’s long-term structure remains intact
From a broader perspective, the analyst emphasizes that Ethereum has not broken its established trend since 2020. During that period, price action has continued to form higher and higher highs, reinforcing the view that the long term structure remains valid. Instead of signaling failure, the long-term consolidation of recent years is framed as stabilization within a large and defined range.
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This range is between $1,000 and $3,000, with the $1,000 level identified as a critical psychological and structural support. According to the analysis, the power of Ethereum above this zone is central to the bullish thesis. Staying above it allows the asset to continue developing a massive ascending triangle, a formation often associated with strong continuation moves once completed.
Inside this trianglethe analyst outlines a clear progression of the internal price phases. Two major pillars of the structure have already been formed and Ethereum is now in the final stages needed to complete the setup. This phase has produced short-term bearish signals, but these remain part of the broader structure rather than a structural collapse.
As price approaches the lower boundary of the triangle, several layers of support converge. These include the rising structural trendline and the major moving averages that have historically supported Ethereum’s price. The analyst notes that stabilization and a rebound are likely in this area, provided Ethereum does not break below the lower boundary of the triangle. Such a break would invalidate the structure, but current conditions suggest the risk remains limited.
Why a Breakout Opens the Door to $24,000
The bullish scenario depends on the confirmation. Once the triangle is fully formed and Ethereum moves above the upper limit, the analyst expects a follow-on move to follow. Based on the size of the formation and previous market behavior, the expected expansion indicates a roughly 300% move from current levels.
When applied to Ethereum’s existing range, that extension places the main bullish target above $24,000. This projection is not presented as a short-term price call, but as the potential outcome of a multi-year structure that will eventually trend upward.
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Additional context reinforces this view. Ethereum continues to benefit from growing institutional participation, with recent data showing record numbers stablecoin transfer volumes exceeding $8 trillion on the network. These developments suggest an increasing dependence on Ethereum’s infrastructure, which could support a sustained price increase following a confirmed outbreak.
Ultimately, the analyst believes Ethereum’s next big step depends on how this happens the consolidation phase has been completed. If the structure holds and the breakout is confirmed, the path to prices above $24,000 becomes a technical continuation rather than an outlier scenario.
Featured image created with Dall.E, chart from Tradingview.com