ETH is expected to replicate the 2017 trend, heading towards $8000?

Crypto analyst Mikybull Crypto pointed out that the current market structure of the Ethereum price is very similar to the early stages of the 2017 bull market. In his latest analysis on X (formerly Twitter), he mentioned that ETH is forming a similar ascending triangle structure, and the overall market sentiment is gradually warming up. If this trend continues, ETH is expected to first break through $3200, followed by a challenge to key resistance levels of $3600 and $4000.

He further stated that although ETH has performed relatively “mildly” compared to other mainstream tokens in this round, it usually indicates greater explosive potential, especially after breaking the psychological barrier of $4000, and a “parabolic rise” is highly likely to occur.

Crypto GEM: ETH is set to experience a parabolic market, target $8000

Crypto GEM is another analyst who is bullish on Ethereum. In a post on X earlier this month, he stated that the Ethereum price will initiate a “parabolic market” within the current cycle, and gave a specific target price of $8000.

The chart he shared shows that the price trend of ETH has entered a long-term consolidation phase, and once it breaks out, it will quickly release the long-accumulated upward energy. According to his assessment, ETH is expected to achieve this goal before July 2026. This means that if the current price is $2500, the increase will exceed 3 times.

Titan of Crypto: The target can reach up to $8500

Another analyst, Titan of Crypto, is even more optimistic. He believes the ultimate target for Ethereum price may not just be $8000, but $8500. In his analysis, he pointed out that ETH has just broken through a “bullish flag pattern,” which typically indicates a strong medium-term rise.

He has divided the rise target of ETH into three stages: the first stage is to break through $5000, the second stage is to challenge $7000, and the final third stage is to challenge $8500. Titan stated that although ETH has not yet entered the main bullish phase, once this structural upward trend is established, it will drive the price to rise rapidly.

Current ETH market overview: still in a consolidation phase.

Image:https://www.gate.com/trade/ETH_USDT

According to Gate data, as of the time of writing this article, the Ethereum price is approximately $2686, having slightly decreased in the past 24 hours. However, several technical indicators show that ETH is still oscillating within an upward channel and has not broken through key support levels.

In terms of market sentiment, although there has not yet been a large-scale FOMO (fear of missing out) effect, on-chain data shows that funds are beginning to slowly flow back into the Ethereum ecosystem, with signs of increased activity in sectors such as LSD, L2, and DeFi.

Summary: Can ETH really rise to $8000?

Although the current Ethereum price is still a considerable distance from $8000, from the perspective of technical charts, market structure, and analysts’ opinions, this target is not unfounded. Especially in the context of institutional funds gradually returning and the resurgence of applications on the Ethereum chain, the long-term potential of ETH is worth paying attention to.

For novice investors, it is important not to blindly chase the rise, but to carefully plan according to their own risk tolerance and investment strategy. After all, the road to $8000 will not be smooth, but once key resistance is broken, it may mark the beginning of a historic opportunity.

Note: This article does not provide any financial investment advice. Please DYOR and trade with caution.