Despite the recent drop, Ethereum’s long-term pattern remains bullish

Although Ethereum (ETHUSD) is currently trading ~36% below its August 2025 high, it remains in a bullish pattern. Specifically, it’s been in an ascending triangle since 2020. See Figure 1 below. An ascending triangle is defined by higher lows and equal highs.

Figure 1: Ethereum’s daily price action since 2015

In this case, we must go back to the ~$110 low from 2020. It then rallied to nearly $5000 on several occasions, but these were false breakouts, as most highs were contained around $4100.

Thus, Ethereum remains in a long-term uptrend, as indicated by the lower, ascending dotted trendline. If ETH holds that sloping trendline, an immediate breakout above $4100 would target approximately $5525 on a linear scale: $1535+($4100-110). If Ethereum drops to ~$2200 support first and then breaks out, we can expect ~$6190.

From a log-scale perspective, the triangle's maximum width targets a whopping $60-80K. These numbers sound astronomical because they are ~2100% higher than current levels. However, ETH has already risen ~2800% from its $110 level in March 2020 in less than six years: (3150-110)/110. Thus, another >2000% gain in a few years is not out of the ordinary.