Ethereum surges more than $2,200, saying bear market is over, analysts say $5,791 is “easy target
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After weeks of horizontal consolidation and uncertainty, Ethereum seems to have flipped a major psychological and technological corner. Over the past five days, bullish momentum has led to a $2,200 conviction for Ethereum price action, up more than 32% in the past seven days alone. Breakthrough is Bitcoin crosses the six-digit mark Likewise, bring the broader cryptocurrency market together.
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According to technical analysis of Ethereum’s daily candlestick chart, the rally is more than just a reaction to Bitcoin. yes Start a new long-term upward trend.
Analysts Announce the End of Bear Market, $2,200 Group Confirms Power
The recent surge has been lifted Ethereum is over $2,000, Price levels act as caps in late March and early April. according to To technical analysis release On Crypto analyst Masterananda’s TradingView platform, the bear market for Ethereum is finally over.
Given what analysts call a truly bullish action, coupled with the high volume over the past few days, this comment was made. This, in turn, confirms very high heights in the coming weeks and days, with Ethereum going to grow for months every day.
Recent rally At the lows on August 5, 2024 and February 3, 2025, the price placed it above the lows on the chart posted by analyst TradingView. The chart also shows that Ethereum has convincingly released prices for several months from its steep drop channel mode.
The reason why the breakthrough is convincing is that the large green candles are accompanied by unusually high trading volumes, marking a breakthrough. Credit for Lending Views The bear phase is over.
“This is just the beginning,” the analyst wrote.
$5,791 A “easy” target, $10,000 by 2026
According to Masterananda’s analysis, the current rally can easily bring Ethereum to 1.618 Fibonacci expansion level close to $5,791.78. Given the strength of the breakthrough and the power of capital inflows that seem to be building, he described this goal as “easy.”
Meet the price target of $5,791 Transform into a breakthrough More than Ethereum’s current unknown price territory of $4,878. However, predictions don’t stop there. Not only may be possible at $10,000 Ethereum, but it may be ripped off by the end of 2025 due to the flood of institutional funding and retail sentiment.
The chart illustrates the recovery path for Ethereum, with various Fibonacci levels plotted by its composition showing that the range of resistance and reflux sites extends from $2,421 at 0.382 to $1.618 with an extension range of $5,791.
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The analyst noted that during this wave, about $250 billion of capital may eventually flow into the cryptocurrency market, with $1 billion to $15 billion already in play. He believes that once the remaining capital enters, the euphoria phase will begin.
At the time of writing, Ethereum trades at $2,395.
Featured images from Unsplash, charts for TradingView
