Ethereum’s price could be poised for a significant rally, with analysts pointing to a multi-year fractal mirroring gold’s price structure as evidence of a potential surge to $6,000.
A side-by-side comparison of Ethereum’s current movement with gold’s performance from 2019 to 2024 reveals striking similarities.
Chart Patterns Align
Both assets are forming a near-identical five-point setup: two local tops, two major pullbacks, and a rounded base before a breakout.
Gold completed this formation earlier in 2024, breaking past $2,100 and climbing more than 60% to hit new all-time highs above $3,400.
Ethereum seems to be replicating this pattern, recently rebounding from a point 4 low near $1,600 and heading toward a resistance zone between $3,000 and $3,500.
This resistance range corresponds to gold’s own breakout area, suggesting a possible upward breakout for Ether.
Previous Fractals Support Bullish Momentum
Further strengthening the bullish case, Ethereum appears to be repeating another historical pattern.
Technical analyst Crypto Eagles pointed to a fractal with four clear stages: prolonged consolidation, a sharp drop to shake out weak hands, a breakout above resistance, and a steep rally.
This pattern previously played out in 2017, when Ethereum surged from under $10 to over $1,400—a gain of more than 1,000%.
Today’s market shows Ethereum trading in a wide range between $1,600 and $4,000, followed by a steep pullback and now rebounding toward the $3,500–$4,000 zone.
Crypto Eagles believes a rally to $5,000–$6,000 is possible if this candle-for-candle pattern continues.
“Only difference now [is that] the base is 100x larger,” the analyst said.
“The fundamentals are 10x stronger. $5k – $6k EASY THIS CYCLE.”
Market Shifts Favor Ether
Ethereum’s growing strength isn’t just technical.
Fundamental trends also support the asset’s advance, especially as capital begins flowing away from alternatives like Solana.
Ethereum has outperformed the broader crypto market recently, with a noticeable edge over Solana, which had drawn investor interest during its memecoin boom.
As enthusiasm for memecoins cools, Ethereum appears to be reclaiming dominance, with bearish formations emerging in the SOL/ETH trading pair.
Standard Chartered analysts and chartist Alex Clay both anticipate ETH gaining further traction in this shift.
Institutional Interest Surges
Investor appetite for Ethereum is growing.
CoinShares data showed Ether-based investment funds pulled in $321.4 million during the week ending May 30—the highest inflow among all digital assets.
This influx of institutional capital suggests Ethereum’s technical setup may soon be backed by strong fundamental support, potentially accelerating its path toward $6,000.