Ethereum is approaching a breakthrough phase that could unlock major price expansion in the long term. A longer time frame analysis shared by a TradingView analyst suggests that, despite the current short-term weakness, Ethereum remains structurally positioned for a significant upward movement. If the current training resolves as expected, the planned escape puts Ethereum price well above $24,000.
Ethereum’s long-term structure remains intact
From a broader perspective, the analyst highlights that Ethereum has not broken its established trend since 2020. During this period, price action continued to reach higher highs, reinforcing the view that the long-term structure remains valid. Rather than reporting a failure, prolonged consolidation observed in recent years is part of a stabilization within a broad and defined range.
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This range is between $1,000 and $3,000, with the $1,000 level identified as a critical psychological and structural support. According to the analysis, the capacity of Ethereum hold above this area is at the heart of the bullish thesis. Staying above allows the asset to continue to develop a massive ascending triangle, a formation often associated with strong continuation moves once completed.
In this trianglethe analyst highlights a clear progression in internal price phases. Two major elements of the structure have already been formed and Ethereum is currently going through the final phase necessary to complete the setup. This phase has brought some short-term bearish signals, but they remain part of a larger structure rather than a structural collapse.
As price approaches the lower boundary of the triangle, multiple support levels converge. These include the ascending structural trendline and major moving averages that have historically supported the price of Ethereum. The analyst notes that stabilization and rebound are likely in this zone, provided that Ethereum does not exceed the lower boundary of the triangle. Such a rupture would invalidate the structure, but current conditions suggest that the risk remains contained.
Why a breakout opens the door to $24,000
The bullish scenario depends on confirmation. Once the triangle is fully formed and Ethereum breaks its upper limit, the analyst expects a continued move to follow. Based on the size of the formation and past market behavior, the projected expansion suggests a move of approximately 300% from current levels.
When applied to Ethereum’s existing lineup, this extension places the main bullish objective above $24,000. This projection is not presented as a short-term price call, but as the potential outcome of a multi-year structure ultimately resolving upward.
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Additional context reinforces this perspective. Ethereum continues to benefit from growing institutional participation, and recent data shows record stablecoin transfer volumes exceed $8 trillion on the network. These developments suggest a growing reliance on Ethereum infrastructure, which could support sustained price expansion following a confirmed breakout.
Ultimately, the analyst believes Ethereum’s next big move depends on how it the consolidation phase ends. If the structure holds and the breakout is confirmed, the trajectory towards prices above $24,000 becomes a technical continuation rather than an outlier scenario.
Featured image created with Dall.E, chart from Tradingview.com
