Ethereum (ETH) exhibits strong structure across key technical models and on-chain data. Analysts tracking long-term patterns suggest that ETH may be nearing the end of a multi-year accumulation phase. The price has found support around $3,000, and some believe that conditions are forming for the price to move towards the $5,000 to $7,000 range.
Wyckoff pattern nearing completion
Bitcoinsensus shared a monthly chart that follows the Wyckoff Accumulation Schematic. Based on the chart, Ethereum is in the final stage of the pattern, moving from Phase C to Phase D. The recent rebound from the Last Point of Support (LPS) indicates a resurgence in demand.
At the time of writing, the price of Ethereum is around $3,100. Under the Wyckoff Rule, any price movement above $4,000 is considered a Sign of Strength (SOS). If this breakout holds, the next target could be in the $5,000 to $7,000 range. This range reflects the expected movement after a complete accumulation cycle.
Monthly accumulation of $ETH is almost complete đź“Š
Development of Wyckoff phase C → D transition
Strong rebound from LPS signals return demand
💥 Over $4,000 = SOS confirmed → Target for $5,000 to $7,000? #Ethereum #Wyckoff pic.twitter.com/AgWrq0UN14
— Bitcoinsensus (@Bitcoinsensus) January 8, 2026
Additionally, analyst Egrag Crypto presented an Ethereum reversal chart to compare the current price structure with past cycles. He noted that each cycle represents a long period of accumulation and has low volatility. He explained:“Descent” here = ETH breakout on the actual chart,” by visual reversal.
His chart shows the first resistance zone between $3,800 and $4,500. If these levels turn into support, the $6,000-$7,500 region is possible. He added that the only risk case would be a retest of the $1,800-$2,200 area before a breakout.
Furthermore, according to Merlijn The Trader, if Ethereum maintains the $3,000 level, the short-term structure will remain intact. He pointed out that above $3,360, it could rise to $3,600. The current pullback is considered part of the normal range.
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Whale Holdings points out strategic accumulation
Merlijn The Trader shared data showing that asset wallet balances holding between 10,000 and 100,000 ETH are increasing. This trend began in 2025 after several years of declining whale stocks. The increase continues, even though the price remains near $3,000.
“This is not about chasing momentum. This is strategic positioning,” he said. “Distribution happens at the top. Accumulation happens before movement.”
On the other hand, the declining ETH balance on the exchange, currently less than 16.5 million per CryptoQuant, also fuels this view. Reducing foreign exchange supply tends to ease short-term selling pressure.
