Ethereum (ETH) is showing strong structure across key technical models and on-chain data. Analysts tracking long-term patterns suggest ETH could be nearing the end of a multi-year accumulation phase. With the price holding support near $3,000, some see conditions forming for a move toward the $5,000–$7,000 range.
Wyckoff Pattern Nears Completion
Bitcoinsensus shared a monthly chart that follows the Wyckoff Accumulation Schematic. Based on the chart, Ethereum is in the final stages of the pattern, moving from Phase C into Phase D. The recent bounce from the Last Point of Support (LPS) points to renewed demand.
At press time, Ethereum is priced around $3,100. A move above $4,000 would be viewed as a Sign of Strength (SOS) under Wyckoff rules. If that breakout holds, the next targets could range between $5,000 and $7,000. This range reflects the projected move following a full accumulation cycle.
$ETH MONTHLY ACCUMULATION NEARLY COMPLETE 📊
Wyckoff Phase C ➝ D transition unfolding
Strong bounce from LPS signals demand returning
💥 Break above $4K = SOS confirmation → $5K–$7K target?#Ethereum #Wyckoff pic.twitter.com/AgWrq0UN14
— Bitcoinsensus (@Bitcoinsensus) January 8, 2026
In addition, analyst Egrag Crypto presented an inverted Ethereum chart to compare the current price structure with past cycles. He noted that each cycle has shown longer accumulation with less volatility. He explained, “A ‘drop’ here = ETH breakout on the real chart,” due to the inversion of the visual.
His chart outlines a first resistance zone at $3,800–$4,500. If those levels flip into support, the $6,000–$7,500 area becomes possible. He added that the only risk case would be a retest of the $1,800–$2,200 area before a breakout.
Moreover, the short-term structure remains intact if Ethereum holds the $3,000 level, according to Merlijn The Trader. He noted that a push above $3,360 could set up a move to $3,600. The current pullback is viewed as part of a normal range.
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Whale Holdings Point to Strategic Accumulation
Merlijn The Trader shared data showing that the asset wallets holding 10,000 to 100,000 ETH have been increasing their balances. This trend began in 2025 after a multi-year decline in whale holdings. The increase has continued even as the price remains near $3,000.
“This isn’t momentum chasing. This is strategic positioning,” he said. “Distribution happens at tops. Accumulation happens before moves.”
Meanwhile, Lower ETH balances on exchanges, now under 16.5 million per CryptoQuant, add to this view. Reduced exchange supply tends to ease short-term sell pressure.
