   
Ethereum may add fuel to the altcoin fire as it aims to surge more than 53% to the psychological threshold of $4,000.
Renowned market analyst Javon Marks noted this development, saying that this bull run is likely to continue, given that the second-largest cryptocurrency by market value has made remarkable progress towards this path. He acknowledged that it was imminent.
Marks pointed out, “ETH (Ethereum)’s return to above $4,000 may have already begun, but many may not realize it yet. The larger technical goal is $4,811.6 and we are working towards achieving it + More than 90% likely to be underway, and a breakout would welcome entry at $8,557.6.”
If this analysis is successful, Ethereum will be primed for a high of $8,557, making ETH a historic high since its current all-time high (ATH) of $4,878 reached in November 2021. It turns out.
With Ethereum breaking out of its inverted head-and-shoulders pattern, the largest altcoin is poised for a big rally.
 
An inverted head-and-shoulders chart is considered a bullish reversal formation because it shows a change in trend from down to up. Technical analysts also use it to buy entries.
A bullish picture is painted for the Ethereum network
Echoing Marks' opinion that Ethereum is poised for a big move, top market analyst Ali Martinez recently told I admitted that I was passing.
Mr. Martinez said: “Historically, Ethereum’s price has risen by an average of 130% every time it bounced off the lower bound of this channel. If this pattern holds, we will see a similar move as long as the key support level of $2,300 holds. It could push $ETH to $6,000.”
crypto analyst Moon was of a similar opinion, with Ethereum showing increased external resilience. A break out of the giant symmetrical triangle could trigger a push towards the $3,400 zone.
As Ethereum continues To experience the bullish outlook, the altcoin recently concluded 5 weeks of trading Spill streak, this turned out to be very harmful.
