Ethereum’s Bullish Breakout: Descending Wedge Pattern Targets $9K Surge

Ethereum isn't just flirting with $9,000—it's loading the rockets. A textbook descending wedge breakout just flashed its most bullish signal since the 2021 bull run, and traders are scrambling to front-run the move.

Technical trigger, macro tailwinds

The chart pattern's confirmation comes as institutional ETH ETFs start settling trades—Wall Street's belated admission that crypto isn't just for drug deals and degenerates. Liquidity's flooding into the second-largest crypto as the Fed's rate-cut cycle kicks in, creating the perfect storm for price discovery.

Short squeeze fuel

With $280 million in ETH shorts still open on derivatives exchanges, this breakout could turn into a violent updraft. The last time ETH saw this combination of technicals and sentiment? Right before it ran 300% in Q4 2024. History doesn't repeat, but it sure loves rhyming—especially when hedge funds are caught on the wrong side.

Whether this marks the start of altseason or just another fakeout remains to be seen. But one thing's certain: the 'smart money' that called crypto dead last year is now quietly accumulating—proving once again that in finance, hypocrisy is the only consistent strategy.

The leading altcoin, ethereum ($ETH), is potentially reaching a key price surge. The data from Gert Van Lagen shows that Ethereum ($ETH) is experiencing retesting of a Descending Broadening Wedge pattern while targeting surge to $9K, mirroring Bitcoin’s performance back in August 2024. The popular crypto analyst considers this to be a key indication of a continuation in the ongoing bullish trajectory. Based on the historical data, the respective pattern mostly, approximately sixty-five percent of the time, leads to bullish continuation.

1/2 $ETH [1W] – Retest of the Descending Broadening Wedge after breakout to upside (79%) – 2nd try.

67% of the time it's a continuation pattern and the trend is up.

Target zone ~$9k at sell line. $BTC has shown the same pattern, see 2/2. pic.twitter.com/IKQxTJniBb

Ethereum Retests Descending Wedge Amid Bullish Consolidation

In line with the market data, Ethereum ($ETH) is currently going through the retesting of a Descending Broadening Wedge pattern. This pattern usually resolves in a bullish continuation, as seen in 67% of the cases. The analyst has pointed out that $ETH has already seen a breakout from the respective pattern with a resilient 79% move. However, now, while re-testing its upper boundary for the 2nd time, it signifies a bullish consolidation.

Mirroring August 2024’s Bullish Retest of Bitcoin while Targeting $9K

Additionally, the present trajectory aims for a staggering $9,000 mark, where it is possible for the price to likely reach the sell line. Hence, such price pattern shows trader Optimism as several consider this wedge pattern as a triggering point for a massive rally. To back his point, the analyst has assimilated Ethereum’s current pattern with Bitcoin’s ($BTC) pattern during August last year, which led to bullish continuation. Keeping this in view, Ethereum is potentially gearing up for another leg up amid positive market setup.