The Ethereum Golden Triangle That Has Predicted Every Move Shows Where Price Is Headed
A crypto analyst has identified a Golden Triangle, a rare structure that has been forming on the Ethereum (ETH) chart for almost nine years. According to the analyst, the Ethereum price has remained within this triangle during both bullish and bearish periods.
In his bullish case, Merlijn believes an upside breakout could send ETH above $4,350 and push its price toward a measured target of around $10,000. Given how long the triangle has held, he expects Ethereum to continue trending higher, with occasional pullbacks, until eventually reaching an ambitious peak above $56,000. He placed this longer-term price target in 2028, suggesting the rally could extend over the next two years.
ETH Bear Case If Price Breaks Below Triangle
For his bear case scenario, Merlijn The Trader noted that if Ethereum decides to go the opposite direction to break below the triangle, that move could trigger a decline toward $1,950. Currently, Ethereum is trading above $2,300, following its latest rally that saw it surge over 36%.
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If the cryptocurrency declines to $1,950, it would mark a more than 15% drop from current prices. Even so, despite outlining this downside risk, Merlijn remains confident that a breakout to the upside may be the likely scenario.
Featured image from Unsplash, chart from TradingView
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