ETH price aims for $6,000 thanks to the reappearance of the golden fractal.

Fractal signal encourages the bullish momentum of ETH

A multi-year fractal model from gold is creating a strong argument for the possibility of ETH bullish to $6,000 in the coming months. A parallel analysis of the price charts between ETH and gold shows that Ethereum is reflecting the multi-year accumulation pattern of gold during the 2019–2024 period.

Comparing the daily performance of ETH/USD and the weekly performance of XAU/USD | Source: CryptoGoosBoth assets are outlining a nearly identical five-point pattern: two local peaks (point 1 and 3), two deep retracements (point 2 and 4), and a rounded bottom (point 5) – a premise for a strong breakout.

Gold has completed this pattern with a breakout above the $2,100 mark at the beginning of 2024, marking an increase of over 60% and setting a new historical peak above $3,400.

Ethereum seems to be replicating the same technical structure, bouncing up from the bottom area of around $1,600 and approaching the key resistance zone of $3,000 – $3,500 – corresponding to the previous breakout point of gold.

The bullish phase of ETH to 5,000-6,000 dollars is "easy in this cycle"

Another fractal pattern continues to reinforce the bullish outlook for Ethereum, laying the groundwork for the possibility of ETH reaching the $6,000 mark in the coming months.

According to technical analyst Crypto Eagles, Ethereum shows signs of replicating a similar cycle to the current 2024–2025 period – a setup that could pave the way for a new all-time high.

This model is analyzed through four distinct phases: an accumulation phase lasting several months, a strong shakeout that traps FOMO investors, a breakout phase that breaks through the resistance zone, and finally a bullish phase following a parabolic curve.

History shows that a similar structure occurred in 2017, when ETH exploded by more than 1,000%, rising from under 10 to over 1,400 dollars in a short period of time.

! ETH ETH/USD Weekly Price Chart | Source: TradingView/CryptoEaglesThe current structure suggests that Ethereum is following a similar trajectory as in previous bull cycles, with a range ranging from $1,600 to $4,000, followed by a deep correction – and is now recovering towards a potential breakout zone around $3,500-$4,000.

According to analysis from Crypto Eagles, if the "candle to candle" fractal pattern continues to develop as expected, Ethereum has the potential to extend its bullish trend to the $5,000 - $6,000 range in the coming months.

"The only difference this time is that the platform's scale has increased by 100 times," the analyst noted, adding:

"The fundamental indicators are also at least 10 times stronger than in previous cycles. With the current momentum, the $5,000 - $6,000 level is entirely feasible in this cycle."

The memecoin frenzy cooling down could lead to a bullish ETH

Basically, the bullish outlook for Ethereum is further strengthened by its increasingly solid market position.

In recent weeks, ETH has shown outstanding strength compared to the entire crypto market, especially compared to Solana — a coin that previously benefited greatly during the bullish wave driven by memecoins.

Weekly SOL/ETH price chart | Source: TradingViewAs the memecoin frenzy gradually subsides and bearish signals begin to appear on the SOL/ETH chart, analysts at Standard Chartered along with charting expert Alex Clay are optimistic that Ethereum will continue to expand its dominance.

Moreover, the demand from institutional investors is also clearly accelerating. According to a report by CoinShares, in the week ending May 30, investment funds focused on Ethereum attracted capital inflows of up to $321.4 million — the largest inflow among all cryptocurrencies.

Dinh Dinh