Ethereum's Wyckoff Breakout Setup: Can It Reach $10,000?

Recent insights from crypto analyst Merlijn The Trader have shed light on Ethereum's price movements, illustrating a potential Wyckoff accumulation pattern. This analysis suggests that Ethereum is on the verge of a significant upward trend, with a price target of $10,000 if it maintains its current structure.

Key Takeaways

Ethereum's price is fluctuating between $3,050 and $3,400, indicating a period of consolidation.
The price action reflects a classic Wyckoff accumulation structure, with significant phases leading up to a potential breakout.
If the current trading pattern continues, Ethereum could reach a price target of $10,000 in a future upward trend.

Ethereum

Ethereum's Wyckoff Accumulation Structure

In a recent technical analysis, crypto analyst Merlijn The Trader examined Ethereum’s price movements on a 2-day candlestick chart, identifying a clear Wyckoff accumulation pattern. Ethereum has recently traded between approximately $3,050 and $3,400, struggling to break through these levels. As of now, the price hovers around $3,100.

This ongoing consolidation phase suggests that Ethereum is not following a clear upward or downward trend but is instead in a state of accumulation, a scenario that aligns with the insights shared by Merlijn The Trader. He described Ethereum's chart as a "Wyckoff masterclass," providing evidence of the pattern unfolding throughout 2025.

In his analysis, Merlijn indicated that the "spring" phase occurred when Ethereum briefly fell below $1,500 earlier this year. This dip proved temporary, as the price quickly rebounded, culminating in a rally that peaked at a selling climax (SC) of $4,946.

Within this accumulation structure, the initial selling climax and subsequent automatic downtrend have defined a trading range that Ethereum has been navigating until now. Presently categorized as being in Phase D, Ethereum has exhibited a downtrend over the past few months.

Chart Analysis ETH/USD is now trading at $3.09. Chart: TradingView

Based on the Wyckoff framework, Ethereum appears to be nearing a breakout zone. If the pattern holds, a transition into Phase E is likely, signaling a significant vertical price increase.

Phase E Projection Signifies Strong Upside Potential

If Ethereum's trajectory remains aligned with the outlined Wyckoff accumulation patterns, Merlijn posits that it may soon enter Phase E, the final stage of this accumulation process. This phase is noted for a sustained price increase, where the cryptocurrency decisively exits the selling climax (SC) and trends upward with strong momentum.

Ethereum Price Projection

In the projected chart, once Ethereum surpasses overhead resistance, there may be a significant price surge. Merlijn anticipates that, upon completing the accumulation pattern, the target for Ethereum could reach $10,000 or higher. However, this upward journey is expected to have its challenges, with an initial surge towards new all-time highs likely followed by a slight pullback around the $5,000 mark.

According to the analysis, this potential Backup and Last Point of Support (BU/LPS) would likely form near $3,750. If Ethereum successfully maintains its position above this level during any pullbacks, it would provide confirmation of robust structural strength, enabling further upward movements targeting beyond the $10,000 milestone.

Featured image from Unsplash, chart from TradingView