Ethereum has just completed a major breakout from a multi-year bullish market structure, according to analysis by Bitcoinsensus. The recent surge in price follows a successful retest of a long-standing trendline from above—often interpreted as a strong bullish confirmation signal.
This breakout has put Ethereum back on traders’ radar as a leading candidate to trigger the next major altcoin rally, or Altseason.
With momentum indicators like the weekly MACD flipping bullish three weeks ago, historical patterns suggest a significant upward move may be underway. Each previous bullish MACD crossover has historically led to sharp ETH price gains.
Currently, the chart identifies two key upside targets:
- $5,800, marking the next immediate resistance level.
- $8,600, labeled as the “Euphoria Zone,” signaling a potential parabolic phase.
The Ethereum chart shows a price channel dating back to 2021, with the recent breakout re-entering the upper band of that bullish formation. If the pattern holds, ETH could be in the early stages of a much larger macro uptrend.
As history may not repeat but often rhymes, analysts suggest the current setup could be a precursor to a full-blown altcoin season.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/market/bold-ethereum-forecast-5800-next-then-8600-euphoria-zone/