Ethereum’s price history is shaped by a gentle parabolic arc that has cushioned every major decline since 2015.
In early May that curve caught Ether again near $2,100 and sent it rallying more than 40 percent in three sessions.
Parabolic rebounds in 2017 and 2021 each preceded multi-fold advances, giving chart watchers a bullish déjà vu.
Technical analyst MilkyBull Crypto examined the monthly setup and said a run to $10,000 “can’t be ruled out technically.”
Momentum indicators echo that optimism, with the weekly RSI curling higher from a multi-year support zone around 40.
Altseason Signals Add Fuel to the Fire
Ethereum’s revival is happening just as the Altcoin Season Index breaks a stubborn down-trend near 29.
A reading above 25 suggests capital is rotating away from Bitcoin and toward alternative chains.
Trader Mister Crypto told followers the next quarter could be “life-changing,” predicting single-day moves of 40 percent for large-cap alts.
Ethereum’s ratio against Solana and XRP is already ticking upward, hinting at incoming outperformance.
Triangle Breakout Theory Targets Five Figures
Since early 2022 Ether has compressed inside a mammoth symmetrical triangle on the two-week chart.
Prices recently reclaimed the triangle’s lower trend-line while bouncing off the 200-period EMA, an action bulls read as confirmation of structure.
Historical analogs show that breakouts from such long consolidations can travel the full height of the pattern.
Applying that logic projects ETH into a $10,000-$20,000 zone if buyers can clear $3,100 and close a week above the upper boundary.
Fundamental Backdrop Turns More Supportive
Ethereum’s Dencun upgrade cut transaction fees on layer-two networks by as much as 90 percent.
Staking yields remain north of 3 percent, keeping token supply net-deflationary during periods of heavy activity.
Institutional flows are also inching higher, with multiple ether ETF applications awaiting SEC judgment.
Risk Factors That Could Derail the Thesis
A resurgent U.S. dollar might sap crypto liquidity, and tougher global regulations could curb speculative appetite.
Bears also point to a crowded derivatives market where funding flips positive whenever ETH rallies past $3,000.
A failed break of $3,100 could trap late buyers and force a retest of the parabolic curve near $2,400.
The Road Ahead
For now traders watch $2,600 as immediate support and $3,100 as the launchpad for an assault on historic highs.
If the broader market does tip into a full-blown altseason, Ethereum’s dual narrative of yield and deflation may give it an edge.
A weekly close above the upper triangle wall would formally open the conversation about five-figure Ether in 2025.