Ethereum is organizing within a long-term triangle while holding on to a key Fibonacci level. Once a breakthrough is confirmed, ETH may first rebound back to the US$4,865 -4,900 range, and then it is expected to challenge US$8,300 -10,000.
Ethereum Triangle Breakthrough, US$4,900 May Return View
Ethereum is being compressed between a long-term rising support line and a downtrend line that started at a previous historical high. Once a breakthrough is confirmed, the road to $4,900 will reopen, and then the more ambitious goals on the chart-$8,300 and $10,000-will also come into view.
This structure is similar to a large multi-year triangle: buyers repeatedly defend the uptrend line, and each rebound creates a lower high. This narrowing range suggests that Ethereum is approaching a major decision-making point.
Falling resistance line remains the primary obstacle. ETH must break through this resistance and hold on to the breakthrough results during the backtest before this pattern can be regarded as a reliable bullish reversal.
If buyers confirm a breakthrough, US$4,900 near the previous high will become the first major target. Breaking through this level will put Ethereum into the price discovery stage and make high forecasts around $8,300 and $10,000 more technical.
However, long-term support lines remain crucial. A continued break below this support will negate expectations of a triangular breakthrough and increase the risk of a deeper correction before Ethereum attempts another rebound.
Ethereum tested back at 0.618 support, returning to focus at US$4,865
Ethereum has fallen back to the 0.618 Fibonacci support level around $1,843, a level that previously marked the starting point of a major rally. Holding this area will strengthen the argument for a long-term rebound in the future.
The chart compares the current trend with May 2025, when ETH rebounded from about $1,379 and then hit a previous high of about $4,865. This time, Ethereum briefly fell to about $1,510 before returning to the same Fibonacci area.
A sustained rebound above $1,843 will be the first positive signal. Since then, ETH will need to regain the resistance of its moving average near $2,400 -2,900 before the broader structure becomes clearly bullish.
A stronger breakthrough could redirect attention back to $4,865, followed by a Fibonacci extension near $6,089. The chart's long-term forecast puts the next major target at approximately $9,145.
However, historical comparisons do not guarantee the same results. If the weekly close below recent lows of around $1,510, it would weaken the support structure and indicate that Ethereum's correction is not over yet.

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