The cryptocurrency market has mounted a strong recovery following its slump earlier in the year when Ethereum saw its value plunge by over 45%. Since that downturn, ETH has rebounded significantly, gaining more than 44% and climbing to a recent peak of $2,700, its highest mark since late February.

Fractal Pattern Signals Potential Breakout

A notable chart analysis by @MerlijnTrader highlights a potentially game-changing fractal that may hint at Ethereum’s future trajectory. The comparison maps Ethereum’s current weekly trend against Bitcoin’s historical movement from 2018 to 2021.

Bitcoin’s journey began with a drawn-out accumulation phase (marked in red), followed by a consolidation range (orange), and then culminated in a parabolic rise (green) that led BTC to a historic high near $69,000. Ethereum, as per the analysis, is now exhibiting a similar formation: a red accumulation zone spanning 2022 through early 2023, a volatile breakout range throughout 2024, and now a push past that ceiling—mimicking BTC’s pattern prior to its major rally.

Should this pattern continue to play out, Ethereum might be poised for a steep upward surge. The fractal suggests a potential trajectory that could take ETH to the $11,000-$12,000 range—more than four times its current price.

What Traders Should Watch For

While no pattern can guarantee a price outcome, fractals often shed light on market sentiment and recurring structural behaviors. If Ethereum follows Bitcoin’s previous cycle dynamics, ETH holders could be on the brink of witnessing an extraordinary price rally.

The key level to monitor in the short term is the $2,800-$3,000 range. A decisive breakout above this level, accompanied by strong trading volume, would lend credibility to the fractal thesis—potentially setting the stage for Ethereum’s run to a new record high.

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