{"id":86288,"date":"2025-08-04T19:00:39","date_gmt":"2025-08-04T19:00:39","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=86288"},"modified":"2025-08-04T19:00:39","modified_gmt":"2025-08-04T19:00:39","slug":"pundit-says-ethereum-price-is-headed-for-9000-after-this-broadening-wedge-retest","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=86288","title":{"rendered":"Pundit Says Ethereum Price Is Headed For $9,000 After This Broadening Wedge Retest"},"content":{"rendered":"

Earlier last week, the Ethereum price was retracing<\/a> severely, giving up a fraction of the gains garnered from the previous bull rally<\/a>. Despite this brief show of weakness, a crypto pundit forecasts that the leading altcoin may be on the brink of an explosive rally toward a new all-time high<\/a> of $9,000. This bullish projection is based on the completion of a Broadening Wedge formation and an ongoing retest of the pattern\u2019s upper boundary, which may now act as support.\u00a0<\/p>\n

Ethereum Price Chart Signals Major Breakout<\/h2>\n

According to the new technical analysis released<\/a> by crypto market expert Gert van Lagen on X social media, Ethereum could be gearing up for a major breakout move<\/a>, with price action potentially targeting upper bullish levels around $9,000. This report is based on a key chart pattern, the Descending Broadening Wedge<\/a>, which has historically proven to be a powerful bullish continuation setup.<\/p>\n

On the weekly timeframe, Ethereum has completed a breakout above the upper resistance of the long-standing Descending Broadening Wedge pattern. After its initial breakout attempt, Lagen notes that Ethereum is now retesting the former resistance<\/a> trendline, which has flipped into potential support. This retest is considered critical, with the analyst highlighting it as ETH\u2019s second attempt to break higher while sustaining its bullish momentum<\/a>.<\/p>\n

The technical setup, as outlined by Lagen\u2019s price chart, shows a projected upside of 79% from the breakout point, which could send Ethereum soaring toward the $9,000 level. Lagen highlights that statistically, such patterns resolve upward 67% of the time, reinforcing ETH\u2019s bullish outlook<\/a>.\u00a0<\/p>\n

The price zone also aligns with a historical sell line\u2014an area where traders may begin taking profits<\/a> as the cryptocurrency approaches upper targets. Interestingly, Lagen notes that the Bitcoin price<\/a> has previously formed a similar Descending Broadening Wedge structure. At the time, the analyst had predicted that a successful retest of the pattern\u2019s upper boundary could trigger a massive surge to $230,000 for Bitcoin. This historical parallel reinforces the belief that Ethereum could be on the verge of a similar upward trajectory if the current retest confirms support.\u00a0<\/p>\n

Analyst Sees ETH Surpassing $5,000 This August<\/h2>\n

Despite ETH\u2019s brief pullback, August is shaping up to be a potentially explosive month for the leading altcoin. Market expert, \u2018Crypto GEMs\u2019 on X, predicts<\/a> that Ethereum will break past $5,000 before the month is over. The analyst\u2019s technical chart shows a strong bullish setup forming after Ethereum\u2019s brief price correction<\/a>.<\/p>\n

Currently, ETH is trading around $3,554 following a steep drop from its July highs of around $3,900. While this decline may appear concerning to some, Crypto GEMs sees it as a golden buying opportunity. The analyst encourages traders to take advantage of lower prices and \u201cbuy the dip<\/a>\u201d, as ETH positions for its next potential leg up.<\/p>","protected":false},"excerpt":{"rendered":"

Earlier last week, the Ethereum price was retracing severely, giving up a fraction of the gains garnered from the previous bull rally. Despite this brief show of weakness, a crypto pundit forecasts that the leading altcoin may be on the brink of an explosive rally toward a new all-time high of $9,000. This bullish projection […]<\/p>\n","protected":false},"author":0,"featured_media":86289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-86288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/86288"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=86288"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/86288\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/86289"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=86288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=86288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=86288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}