Technical indicators are signaling growing bullish potential for Ethereum’s price trajectory, with analysts pointing to the possibility of a breakout towards the $7,000-$8,000 range.
Market observers highlight a pattern of hidden bullish divergence as a key signal. Ethereum has been forming higher price lows while the Relative Strength Index (RSI) registered lower lows, suggesting underlying strength and the potential continuation of an uptrend despite short-term volatility.
Concurrently, a significant reduction in bearish trading volume has been noted. This development indicates diminished selling pressure and stabilization near critical support levels, often a precursor to upward movement.
The asset’s recent price consolidation near the upper boundaries of its trading range further reinforces the constructive outlook. Such periods of consolidation are frequently followed by decisive bullish breakouts.
Echoing these technical signals, prominent crypto analyst Marcus Corvinus predicts Ethereum could surge to between $7,000 and $8,000. Corvinus cites the asset’s demonstrated technical resilience and strength relative to Bitcoin as core factors supporting this significant price target.
While Ethereum’s RSI remains technically in oversold territory after recent market fluctuations, the presence of hidden divergence and weakening bearish pressure builds confidence in the bullish case for a substantial price increase.