Ethereum (ETH) is showing signs of entering a highly anticipated "liftoff" phase, according to some crypto analysts, who are utilizing the Wyckoff Accumulation pattern to predict a potential parabolic price surge. Despite recent fluctuations, with <a href="https://www.cryptoknowmics.com/news/xrp-reaches-significant-milestone-in-trading-pair-against-ethereum/">ETH trading</a> in the mid-$2,500 range, a significant segment of the market believes the second-largest cryptocurrency is poised for a major breakout, driven by robust network activity and favorable technical signals.
<h2>Decoding the Wyckoff Accumulation</h2>
Crypto trader <a href="https://twitter.com/TheMoonCarl/status/1941054080995987875">Merlijn</a> The Trader suggests that Ethereum has successfully navigated through the "creek" (overhead resistance) and "spring" (a deceptive false breakdown) phases of the Wyckoff pattern. This progression indicates that ETH is now on the cusp of the "liftoff" phase, characterized by a sharp recovery and a decisive breakout from established resistance levels, signaling the initiation of a new, powerful bullish trend. Should Ethereum successfully breach and retest its next major resistance at $3,700, analysts like Crypto GEMs believe it could pave the way for a new all-time high, potentially surpassing $3,000 in 2025.
<h3>Rising Wedge Cautions and Network Vitality</h3>
While many are optimistic, some analysts offer a more cautious perspective. Carl Moon, for instance, points to a rising wedge pattern on the four-hour Ethereum chart, a bearish indicator suggesting weakening bullish momentum. He warns that unless ETH breaks decisively out of this formation, it could see a drop towards the $2,200 level.

Despite these differing price forecasts, the underlying health of the Ethereum network appears robust. Crypto analyst CryptoGoos notes that daily transactions are nearing all-time high levels last seen in 2021, a metric often preceding major price movements. This sentiment is echoed by Crypto Rover, who highlights active addresses on the Ethereum network reaching new all-time highs, suggesting that ETH below $3,000 presents a compelling opportunity. Additionally, Ethereum liquid staking is approaching historic levels, with 35.5 million ETH now locked, further underscoring the network's increasing utility and investor commitment.

Ethereum Approaches "Wyckoff Liftoff" Phase: Analysts Eye New Highs Amidst Network Activity Surge

Ethereum approaches "Wyckoff Liftoff" phase with analysts eyeing new highs for ETH, supported by surging network activity.

Ethereum Approaches "Wyckoff Liftoff" Phase: Analysts Eye New Highs Amidst Network Activity Surge

Top Picks