Ethereum Price Forecast: Multi-Year Triangle Approaches Apex as ETH Targets $12K Breakout

Over the past few weeks, Ethereum (ETH) has experienced minimal activity as it has been consolidating within the $2,500 to $2,800 range. Following a robust rally in early May that drove the asset above $2,400, momentum decelerated and ETH began to move sideways. Narrow daily candles and wicks on both ends have characterized this consolidation phase, indicating a lack of decisiveness in the market.

Ethereum Holds Steady as Market Awaits Direction – $3,500 Breakout Could Ignite Rally Toward $12K

Trading volume has tapered off since the initial surge, indicating that many traders are staying on the sidelines, awaiting clearer market signals. Despite the pause in momentum, Ethereum has maintained its recent gains, signaling resilience and offering hope to bullish investors.

But this quiet period could be the calm before the storm. According to well-known crypto analyst Captain Faibik, Ethereum is currently moving within a long-term symmetrical triangle pattern that has been forming since early 2021. As ETH approaches the apex of this formation, Faibik anticipates a significant breakout in the next one to two months.

“We’re in the accumulation phase,” Faibik stated on social media. “As long as Ethereum stays within the triangle, it’s a golden opportunity to accumulate. When the breakout comes, it’ll move fast.”

Faibik identifies $3,500 as the key resistance level. A monthly close above this threshold would confirm a breakout from the triangle, potentially launching Ethereum into a strong upward trend. His long-term target? $12,000 — nearly a fivefold increase from current prices.

Faibik’s forecast hinges on the historical technical behavior and the robustness of long-term accumulation. Symmetrical triangles frequently serve as continuation patterns, and given that ETH has maintained higher lows for more than three years, the configuration appears bullish.

The following two months will be essential. If Ethereum breaks above the resistance level with robust volume, it may signal the beginning of a significant bull run in the market. However, if the support level around $2,500 fails, a more substantial correction could take place before any major breakout happens.

 

 

 

 

 

 

 

 

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