A crypto analyst, who publishes technical analysis to his audience on As things currently stand, Ethereum price is trading around $2,100 and 57% below its high. Therefore, technical analysis suggests that the cryptocurrency is in an accumulation zone, which is set up a price movement up to $20,000.
Accumulation plan plays out on ETH weekly chart
The weekly ETH/USDT chart published by Crypto Patel on illustrates a structured pricing model which has been developing since 2024. The chart identifies a selling peak (SC) in early 2024, followed by an automatic rally (AR) towards resistance within two months, and then a secondary test (ST) of the selling peak in mid-2024.
These are all terminologies of a Wyckoff plan, and this created a sequence of price events that established the limits of the current trading range. There is a horizontal resistance line around $4,700 at the top of this range, while support 1, at $1,549, represents the background.
There are also two notable bearish wicks called Spring 1 and Spring 2, both located around Support Spring 1, which occurred in mid-2025 and saw the price of Ethereum very briefly fall below Support 1 before recovering and returning to a new all-time high just above the resistance line.
Since then, however, Ethereum price has been on a bearish trajectory and the current price action is called Spring 2, which is just above support 1. If Support 1 breaks down, the next expected buy zone is Support 2 at $1,065. It is in the anticipated Fall Support 2 that Crypto Patel identifies the $1,800-$1,400 range as the best buying and accumulation zone.
Ethereum Price Chart. Source: @CryptoPatel on X
The price increases to $20,000
The ETH accumulation chart predicts a price rally of up to $20,000 after Ethereum breaks out of the accumulation zone. This rally, however, depends on a significant resistance/breakout level around $4,700.
Crypto Patel’s projected targets ($10,000, $15,000, and $20,000) are plotted on the chart as a stepwise upward trajectory extending through late 2027 and 2028. The projected rally shows a rally from the current accumulation zone to $4,700, a pullback below $4,000 to consolidate the breakout, and then a parabolic extension to new all-time highs as high. to $10,000 before continuing to increase to $15,000 and $20,000.
A $20,000 price target for Ethereum would represent approximately 10x return compared to the current price, which is trading at $2,135, up 4.8% in the last 24 hours.
Featured image from Getty Images, chart from Tradingview.com
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