Ethereum Forms Wyckoff Breakout Setup: $10,000 Price Target Back In Focus

Overview

A recent analysis by crypto analyst Merlijn The Trader highlights Ethereum’s price action as a classic example of the Wyckoff accumulation model. The analysis indicates that Ethereum is on the verge of a significant expansion phase, contingent on the integrity of its current price structure.

Wyckoff Accumulation Structure in Ethereum

Merlijn The Trader’s technical analysis, shared on X, provides insights into Ethereum’s trading patterns over recent days. Ethereum has fluctuated between approximately $3,050 and $3,400, struggling to make a sustained move beyond these levels. As of the latest updates, Ethereum’s price is around $3,100. This prolonged period of price consolidation suggests a return to an accumulation phase, as identified in the Wyckoff framework.

The analyst refers to Ethereum’s chart as a “Wyckoff masterclass,” noting that the cryptocurrency has been exhibiting behavior consistent with the accumulation phase throughout 2025. A critical point in this structure occurred when Ethereum dipped briefly below $1,500 earlier in the year, which Merlijn identifies as the “spring.” This dip was short-lived, with Ethereum reclaiming its range within days and subsequently rallying to a selling climax of $4,946.

The current trading range indicates that Ethereum is navigating through Phase D of the Wyckoff model, characterized by a recent downtrend. However, the analysis suggests that Ethereum is nearing a breakout zone, with the potential for a transition into Phase E, which would signify a full upward markup if the current structure remains intact.

Phase E Projection and Implications

If Ethereum’s price action continues to align with the Wyckoff roadmap, it is poised to enter Phase E, the final stage of the accumulation process. This phase typically features a sustained markup, where the price decisively exits the selling climax and trends upward with increased momentum. The analysis suggests that once Ethereum clears overhead resistance, a sharp upside expansion could occur.

Merlijn’s chart projections indicate a potential target of $10,000 or higher if the Wyckoff structure successfully completes. However, the anticipated upward trajectory is not expected to be straightforward. The model predicts an initial surge to new all-time highs, followed by a possible rejection around the $5,000 mark. Following this, a period of consolidation may occur, with the Backup and Last Point of Support likely forming around $3,750. Maintaining this level during any pullbacks would reinforce the structural strength of Ethereum’s price action.

From author

The analysis of Ethereum’s price action through the lens of the Wyckoff accumulation model provides an interesting perspective on its potential future movements. By identifying key phases and price ranges, traders and investors can better understand the market dynamics at play. The insights offered in the analysis could serve as a guide for those looking to navigate the current market landscape.

Impact on the crypto market

• The analysis positions Ethereum within a significant technical framework that may influence investor sentiment.
• A successful transition into Phase E could lead to increased trading activity and interest in Ethereum.
• Clearing overhead resistance may signal bullish momentum, potentially attracting more participants to the market.
• The possibility of reaching new all-time highs could have a broader impact on the cryptocurrency market, encouraging investment in other altcoins.
• The consolidation phase around $3,750 could provide a critical support level for future price movements.