Key Insights:
- ETH is consolidating within a triangle with a 17% breakout potential.
- Analyst maintains a bullish target of $4,800 if the trendline holds.
- Ethereum is recovering despite posting its worst Q1 in five years.
Ethereum price consolidated between $1,580 and $1,640, forming a symmetrical triangle pattern. Analyst Ali Martinez noted this setup could lead to a 17% price breakout depending on the direction.
At press time, ETH/USD traded at $1,623. The pattern reflected compressed volatility, often seen before strong price moves.
Symmetrical Triangle Suggests Breakout Setup
Technical analyst Ali Martinez shared a symmetrical triangle pattern on Ethereum’s hourly chart. The price action showed consistent compression, with lower highs and higher lows forming a triangle that typically precedes a breakout. At press time, Ethereum price traded at $1,623, positioned near the triangle’s apex.
The expected breakout target is based on the triangle’s vertical height. A move to the upside could carry the top altcoin price to around $1,900, while a downside break might revisit $1,380. The triangle first emerged after ETH price dipped to $1,384 on April 8. Since then, it steadily reclaimed ground, moving closer to key resistance levels.
Fibonacci retracement levels plotted on the chart highlighted $1,740 as overhead resistance and $1,485 as support. These levels defined potential reaction zones post-breakout. A confirmed breakout would require accompanying volume expansion, a typical characteristic of strong directional shifts from compression patterns.
Breakout From Descending Trendline
Notably, earlier in Q1, Ethereum price broke out from a descending trendline that had capped gains for weeks. Crypto analyst Javon Marks underscored the significance of this breakout, stating that the move remained valid as long as Ethereum held above the previous resistance level. He projected a price target of $4,800 based on historical breakouts.
Marks drew parallels to the 2020 market cycle, during which a similar trendline breakout preceded an extended rally. According to his analysis, Ethereum’s current position mirrors that structure, with the potential for further growth if the support level holds.
Momentum indicators are neutral and therefore support Marks’ bulls view of the market. Since Ethereum price has failed to break down to the trend line, there is more support for the continuation argument. It is now a support level to future higher levels.
Ethereum Price Posts Weakest Quarterly Close Since 2020
Despite these technological advancements, Ethereum finished Q1 2025 with the worst quarterly performance as seen in the last five years. ETH price dropped down to $1,400, attributed to risk-affinity sentiment and overall altcoin bearish market. ETH/BTC also dropped to its lowest value since 2020, indicating that ETH underperformed BTC in the process.
However, the signs of recovery began to appear in early April. ETH price jumped from $1,384 and made a higher low, which suggests potential buying pressure. According to on-chain data, there was a continued stable in active addresses, and the total gas fees also reduced, making the network more efficient.
Currently, Ethereum has a market capitalization of over 195 billion dollars with a circulating supply of 120,200,346 ETH. On the fundamental metrics, the market exhibited signs of a functioning and active ecosystem despite market conditions in the quarter.
Long-Term Price Outlook Still Eyes $4,800
Javon Marks maintained his long-term Ethereum price projection of $4,800, citing past breakout patterns and trendline models. If Ethereum surpasses that level, he forecasted a secondary target of $8,557 using fractal analysis.
Standard Chartered also revised its 2025 ETH target to $4,800, up from its earlier $4,000 estimate. The bank cited rising institutional demand and macroeconomic shifts as key drivers.
To reach these levels, Ethereum price must remain above $1,740 and break out of the symmetrical triangle on strong volume. A shift into accumulation would further support upward continuation.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
