A recent technical analysis posted on X by crypto analyst Merlijn The Trader suggests Ethereum’s price action on the 2-day chart is a classic example of Wyckoff accumulation. According to his assessment, Ethereum has already progressed through several key stages of this model and is now nearing a potential expansion phase, assuming the pattern holds.
Wyckoff Accumulation Pattern Forms on Ethereum Chart
In recent days, Ethereum has been trading between roughly $3,050 and $3,400, unable to sustain a breakout in either direction. As of this writing, ETH is trading around $3,100. This extended consolidation reinforces the view that Ethereum is in an accumulation phase, a behavior highlighted in Merlijn The Trader’s analysis.
In his post, Merlijn described Ethereum’s chart as a “Wyckoff masterclass,” noting a sequence of events that align with the textbook Wyckoff accumulation schematic throughout 2025. According to his annotations, the “spring” occurred when ETH briefly fell below $1,500 in the first half of the year. The price quickly recovered, rallying to a selling climax (SC) at $4,946.
This initial selling climax and subsequent reaction established the trading range that has contained Ethereum’s price action until now. The chart indicates Ethereum has been moving through Phase D, marked by a recent downtrend. However, based on the Wyckoff framework, Ethereum now appears to be approaching a breakout zone, potentially transitioning into Phase E, which could lead to a significant upward move.
Phase E Points to Potential Upside
If the Wyckoff pattern continues as outlined, Merlijn believes Ethereum is preparing for Phase E, the final stage of accumulation. This phase is characterized by a sustained markup, where the price breaks decisively above the selling climax (SC) and trends higher with growing momentum.
The chart projection shows a sharp upward expansion once overhead resistance is cleared, with Merlijn identifying $10,000 and above as a long-term target if the pattern completes. The path higher is not expected to be straight. The model anticipates an initial push to new all-time highs, followed by a modest rejection near the $5,000 area before a consolidation around the Backup and Last Point of Support (BU/LPS).
According to the chart, this BU/LPS would likely form around $3,750. If Ethereum holds above that level during a pullback, it would confirm structural strength, setting the stage for a subsequent expansion targeting levels above $10,000.
Frequently Asked Questions
FAQs Ethereums Wyckoff Breakout the 10000 Price Target
Beginner Questions
Q1 What is the Wyckoff Breakout Pattern I keep hearing about
A Its a classic chart analysis pattern that suggests a period of accumulation is followed by a sharp price breakout indicating a potential start of a major upward trend
Q2 Why is everyone talking about a 10000 price target for Ethereum again
A The Wyckoff breakout is seen by some analysts as a strong technical signal that the longanticipated bull market for Ethereum is beginning reviving earlier predictions that its price could reach 10000 or higher in this cycle
Q3 Is this a guarantee that Ethereum will hit 10000
A No it is not a guarantee Technical analysis like the Wyckoff pattern identifies possibilities and probabilities based on past price action but it is not a crystal ball Market sentiment adoption and broader economic factors all play crucial roles
Q4 As a beginner should I buy Ethereum now because of this pattern
A Never invest based solely on one chart pattern Always do your own research understand the risks of cryptocurrency investing consider your financial goals and never invest more than you can afford to lose
Intermediate Advanced Questions
Q5 What specific phase of the Wyckoff Method does this breakout supposedly represent
A Analysts identifying this pattern believe Ethereum has completed the Accumulation phase and is now in the Markup phase where the price begins a sustained upward advance
Q6 What are the key chart levels to watch after this breakout
A Traders will watch for the previous major resistance level to now act as new support They will also monitor trading volume a genuine breakout should be supported by high volume
Q7 What could invalidate this Wyckoff breakout signal
A A sharp price drop back into the previous accumulation trading range would invalidate the signal and suggest further consolidation or a move downward