Ethereum (ETH) may be preparing for a powerful price surge—and it’s not just hype. According to respected analyst Trader Tardigrade, the asset has just completed a textbook “Spring” phase in the Wyckoff Reaccumulation pattern, a move that often kicks off a strong bullish trend.
In his most recent chart, Tardigrade describes the token’s recent adventure under major Wyckoff phases: a Buying Climax (BCLX), an Automatic Reaction (AR), a Secondary Test (ST), and an Upthrust (UT). The recent drop into the Spring phase, followed by a sharp bounce, marks a potential turning point where the market shifts from shaking out weak hands to being primed for a rally.
ETH Price Chart (Source: X Post)
Now entering the “Last Point of Support” (LPS), the token appears to be building a base for a more decisive move. If the pattern continues to follow Wyckoff’s classic roadmap, the cryptocurrency could soon break above resistance near $2,765 and push higher toward the $3,400 range—or beyond.
The formation of a “Sign of Strength” (SOS) followed by a “Back-Up” (BU) would confirm the reaccumulation and the start of a bullish phase. In short, if the Spring holds, Ethereum could be about to bloom.
ETH Déjà Vu: Trendline Bounce Signals Big Move
After springing off the Wyckoff reaccumulation phase, ETH has now confirmed another critical bounce—this time off a rising support trendline. Analyst Trader Tardigrade connects the dots in a follow-up chart, revealing a near-perfect mirror of Ethereum’s price action from October 2023 to January 2024.
Back then? A massive rally followed. Now, the setup is nearly identical—right down to the timing. Both trendlines cover 105 days each, with two accurate taps before a parabolic breakout.
ETH Price Chart (Source: X Post)
In the current pattern, Ethereum has once again coiled slightly above support, which is an indication that a sharp upward movement might be occurring. With such tracks of history, the cryptocurrency may very well be headed up to the trend of $4,800, just as it did previously.
This kind of fractal repetition doesn’t happen often, and when it does, technical traders take notice. While the market always has the final say, the token’s price is painting a familiar picture. One that bulls have seen before—and would love to see again.
