Ethereum Mirrors Stocks Chart as ETH Price Hints at Blow-Off Top Toward $8K

Key takeaways:

Ethereum could surge toward $8,000 as it enters the final phase of a long-term bullish pattern.

The pattern is strikingly similar to Dow Jones’ bullish structure from 1980.

Other indicators also hint at gains in Ethereum markets in the coming months.

Ethereum’s native token, Ether (ETH), is on the verge of a “final surge” toward $8,000, said analyst Gert van Lagen, who pointed to a striking resemblance between ETH’s current structure and a Dow Jones (DJIA) trend.

ETH pattern echoes 245% gains in 2022–2024

At the core of Lagen’s outlook is a “ textbook expanding diagonal.”

It is a broadening megaphone pattern, whose lower trendline has served as strong support to Ethereum’s previous major rallies since mid-2022, including a 245% rally in the November 2022-February 2024 session.

On Monday, ETH traded midway between the pattern’s upper and lower bounds, rebounding from the lower trendline in March. It now eyes a run-up toward the upper trendline, sitting near the $8,000 level, by early 2026.

To support this thesis, Van Lagen pointed to a similar setup in the Dow Jones hourly chart from 1980, which followed an expanding diagonal before peaking.

He further aligned this pattern with Elliott Wave theory, which breaks bull markets into five psychological phases.

Ethereum is now in its fifth and “final surge” wave, or the blow-off top. This is typically the most volatile stage, where momentum accelerates, price action becomes unpredictable and late buyers rush in.

Ascending triangle hints at 80% ETH price rise

Ether’s price technicals show it has reclaimed the multiyear ascending trendline as support and is now consolidating within a textbook ascending triangle pattern.

The triangle’s horizontal resistance zone between $3,900 and $4,150 is being tested.

A breakout above this range could trigger a measured move toward $7,150, about 80% above the current levels, and closer to the megaphone pattern’s target.

Macroeconomic tailwinds, including expected Fed rate cuts and ongoing Ether ETF inflows, may support ETH’s rally and limit downside risk, added Felix Xu of ZX Squared Capital, suggesting a $10,000 price case for Ether.

Related: Wall Street piles into Ethereum as stablecoins are greenlit and RWAs expand

Consensys projects Ethereum’s base price to reach $4,900 by the end of 2025 and $15,800 by 2028, using a “cost-to-corrupt” model that links ETH’s value to the cost of attacking the network.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.