Analyst projects Ethereum breakout from Golden Triangle toward $10,000

Ethereum approaches the apex of a nine‑year “Golden Triangle” pattern, a trader says. A breakout is expected soon, up or down.

Analyst “Merlijn The Trader” on X says ETH has held this structure since 2017. He shared the setup and scenarios in April, noting the triangle has stayed intact through major shocks in 2020 and the 2022 bear market, and even after ETH’s 2021 ATH above $4,800. A recent update argues price is nearing a decisive breakout point at the triangle’s apex.

Key paths the analyst maps:

• Bull case. Break above the triangle and over $4,350 with a measured target near $10,000 per his analysis. He projects a longer arc that could extend into 2028, pointing to an ambitious peak above $56,000 in his long-term view.
• Bear case. Break below the structure toward ~$1,950. ETH recently traded above $2,300 after a ~36% rally, leaving room for a >15% drawdown to that level if downside confirms per recent price action.

The “Golden Triangle” setup and its durability are detailed in prior coverage here. The trader continues to lean toward an upside resolution in his latest post.

First mention: ETH