Ethereum Eyes $21,000 Target With Double Pattern In Play – Analyst
Prominent market analyst with X username PlanD has shared an intriguing bullish projection of the Ethereum (ETH) market. Amid latest losses, which noticed the ETH decline by 10.66% over the week, PlanD backs the altcoin market chief to succeed in a possible $21,000 value goal by finish of 2025.
Ethereum Ready For Surge As Triangle, Head & Shoulder Pattern Combines
In an X post on September 27, PlanD offers a long-term value evaluation of the Ethereum market, highlighting sturdy bullish potential. Over the final quarter, ETH has proven a powerful value efficiency, breaking out of a four-year-long symmetrical triangle to determine a brand new all-time high at $4,953.
For context, the symmetrical triangle is a impartial chart sample that kinds when the value consolidates between two converging trendlines. When value breaks above the higher descending trendline, i.e., resistance as seen within the Ethereum market, it’s often interpreted as a bullish sign.
In line with the traditional technical construction, PlanD additional explains that the latest value decline over the previous two weeks aligns with an anticipated retest of “this resistance” round $3,900. Having efficiently bounced off this value zone, which now capabilities as a value ground, the analyst states that Ethereum has now resumed its uptrend, with the primary main goal being $5,900, which emerged from an inverse head and shoulders sample (H&S)
The inverse head and shoulders is a bullish reversal chart sample typically seen after a downtrend. It alerts that the market could also be shifting from bearish to bullish momentum. This is clearly seen within the ETH value conduct thus far in 2025. PlanD explains that if Ethereum efficiently achieves the $5,900 inverse H&S goal, the altcoin is predicted to provoke a rally in direction of the symmetrical triangle formation’s main goal of $21,000 by the top of 2025.
Ethereum Market Overview
At the time of writing, Ethereum is buying and selling at $4,001 with nearly no value change within the final day. However, market buying and selling quantity has dropped 58.67%, indicating weaker participation and declining short-term momentum.
According to blockchain analytics firm Sentora, whole community charges fell 3.9% week-on-week, suggesting decreased on-chain exercise and decrease demand for block house. Meanwhile, alternate netflows recorded –$3.08 billion week-on-week, which means extra Ethereum was withdrawn from exchanges than deposited, a typically bullish sign because it factors to accumulation slightly than promoting stress.
Featured picture from Pexels, chart from Tradingview
