Ethereum has shown remarkable resilience since its correction phases in 2022–2023. According to market observations shared by Yimin X, ETH’s price structure resembles a leading diagonal, signaling the potential start of Wave 5 in Elliott Wave terms.
Historically, this leg of a cycle tends to be the strongest, capable of producing extended upward moves. While targets in the $8,500–$11,000 range may appear extreme, Ethereum has already reached $3,000 levels five years ago, providing perspective on its long-term growth potential.
Weekly ETH/USD charts highlight a rising broadening wedge, with two upward-sloping trendlines marking expanding volatility. The recent bottoming near $3,000 aligns with a Wave 4 corrective phase, structured as a complex ABC pattern typical in higher-timeframe bull markets.
Volume profiles indicate heavy liquidity around $2,600–$3,600, confirming strong buyer interest in this zone. Maintaining this level strengthens the bullish outlook, while a drop below it could indicate deeper correction risks.
Ethereum Momentum Signals Point to Consolidation and Strengthening
Technical indicators indicate that Ethereum is moving towards becoming stronger after a pullback. The RSI is in the middle to slightly bullish area in the chart, with higher lows and no bearish divergence. The above information confirms that the selling momentum is easing and that Ether is ready to make a higher run. The histogram in the MACD chart has contracted to the downside.
Although the range oscillator has retreated above zero, indicating that the volatility in the downside process has been reduced, the range indicator has begun to move to the mid-range area. This historical indication suggests that the market will exhibit weak prices or will continue to demonstrate an uptrend. ETH’s weekly RSI is near 45-50, suggesting a strong uptrend.
Fibonacci Levels Define Long-Term Roadmap
Structurally, the possibility of an extended bullish run for Ethereum is evident. Using the Fib Extensions, the major target points include the first set of levels at 1.236 to 1.382 around $11,000 to $13,500, which correspond with earlier structural estimates. For the latter extensions at 1.618, 2.0, and 2.382, the target points include $17,000 to $43,000, with the most optimistic target estimated at $57,000 for the level at 2.618.
Also Read: Can Ethereum (ETH) Reach $5,000 by January 2026? Three Factors to Watch
