As Bitcoin reached a new peak price, driven by a flight to safe havens amid a US government shutdown and a rapidly devaluing dollar, Ether quietly recovered to within 7% of its previous peak.
ETH failed to break resistance at $4,600 and fell back to $4,500 at the time of writing, but it remains within a range-bound channel and is coiled and ready for a breakout, say analysts.
“Ethereum is going through this pattern like it’s straight out of a textbook,” crypto analyst ‘Moustache’ said on Sunday.
He referred to a year-and-a-half-long descending broadening wedge, which is a bullish pattern typically leading to a massive breakout. In this case, the target for ETH is $12,000, he said.
#Altcoins
One of the most important, if not the most important chart for $ETH.
Ethereum is going through this pattern like it’s straight out of a textbook.
Target: around $12,000.
Can you imagine how Altcoins will skyrocket then?
You’re all not bullish enough. pic.twitter.com/tzv8MrYeTd
— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) October 5, 2025
ETH Bulls Target Five Figures
If Ether prices double during the next three months, altcoins will skyrocket, he added.
Meanwhile, analyst ‘Mister Crypto’ said it was a “textbook bull flag setup” with a target of $6,800.
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“ETH is probably one of the best trades out there,” said Web3 influencer ‘ZYN’, who added:
“Institutional adoption, staking approval coming, companies buying billions and yet it’s at 2021 ATH.”
Ether prices doubling from this level by the end of the fourth quarter “doesn’t seem unlikely to happen.”
‘Ash Crypto’ said forget about the Bitcoin and M2 money supply correlation. “If ETH catches up with the global M2 supply, it will trade above $15,000 this cycle.”
On Monday morning, ‘Galaxy BTC’ wrote, “The Ethereum bull run will probably continue into 2026.”
An even longer-term chart showed that “we’ve successfully retested the ‘V-bottom’ structure and the big triangle from 2021,” and there will be a lot of volatility, but by the looks, we’re about to go for 5-digit ETH.”
Bitcoin Maxis Throwing Rocks
Regardless of all the bullish sentiment, Bitcoin maximalist Samson Mow couldn’t resist taking another swipe at Ethereum this weekend.
“The only thing keeping ETH at these levels is the Korean retail investor,” he said, claiming that “ETH influencers have been flying to South Korea just to market to retail.”
However, there was no evidence to back up this claim, which appeared to be more tribalism from Bitcoin maxis following a post from Andrew Kang claiming that Tom Lee’s ETH thesis was “retarded.”
Lee took the tribal attack in his stride, labeling himself “ETHtarded.”
Someone called Tom Lee’s $ETH thesis “retarded.”
He flipped it into a brand:
“In #crypto, retarded is good… I’m ETHtarded.”
A line so unhinged it looped back to genius. pic.twitter.com/v3FjbsMm4s— CryptoPotato Official (@Crypto_Potato) October 6, 2025
