Ethereum Could Rocket to $20K? Chart Signals Something Wild

Ethereum (ETH)’s monthly chart is flashing a setup traders haven’t seen since the early days of its last explosive bull run. A new analysis suggests it’s now entering a structure that previously preceded one of the largest rallies in its history – this time pointing toward a target zone as high as $20K.

Specifically, Ethereum is demonstrating a sequence that looks almost identical to the 2019-2021 cycle, according to an analysis shared by renowned pseudonymous cryptocurrency trading expert Trader Tardigrade in an X post on November 20.

Back then, a long bottoming structure formed, followed by rounded retracements, compressed monthly candles, and a final breakout that carried ETH into its parabolic phase.

According to the analyst, today’s monthly candles are showing the same posture, complete with higher lows, tightening momentum, and a breakout region forming just above the dotted resistance line.

The visual comparison is striking. On the left of the chart, the previous cycle shows Ethereum forming a multi-year accumulation box before breaking above a long-held resistance and launching into a dramatic climb. On the right, the current cycle appears to be building the same architecture.

Why the $20K Target Is Back on the Table

Furthermore, the analyst marked a similar yellow circle at the point where ETH historically transitioned from compression into acceleration, suggesting that today’s market may be nearing the equivalent stage.

Meanwhile, Ethereum’s broader market structure also supports the idea that the asset is approaching an inflection point. Each major decline over the past two years formed rounded bottoms followed by impulsive upward pushes, keeping the macro trend intact despite volatility.

ETH is now trading at $3,005.53, down 2.89% in the last 24 hours, recording a dip of 14.26% across the previous seven days, and accumulating a 22.53% loss on its monthly chart, according to the most recent price movement information.

This is well below the key support zone of $3,150 earlier highlighted by fellow crypto trading specialist Ali Martinez, where traders bought a whopping 2.53 million ETH and created a massive cost-basis wall, as Techgaged reported earlier.

If ETH can break above its multi-cycle resistance, it would open the door to the large target zone projected on the chart – an area that stretches toward the $20,000 range.

There is still uncertainty, as Ethereum must first decisively reclaim the resistance that has rejected the price several times since 2022. Without that breakout, the structure remains incomplete. 

However, the recurring nature of ETH’s long-cycle patterns has caught analysts’ attention, especially given how closely the current monthly formations align with previous pre-parabolic setups.

For now, Ethereum sits at the edge of its long-term compression range. If history repeats even partially, the next breakout phase could define the asset’s entire trajectory heading into 2026, placing the $20,000 target squarely within sight.

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