Ethereum is approaching a decisive phase that could carry it into five-figure territory, according to a multi-timeframe analysis from trader Cantonese Cat (@Cantonmeow).<\/p>\n
In a video published today, the analyst argues that ETH has cleared a cluster of late-cycle resistances and is now exhibiting a confluence of technical signals\u2014on monthly, weekly, daily, and intraday charts\u2014that \u201cfavor some of the higher targets to be met, maybe 1.272, 1.414, 1.618, anywhere around potentially five figures.\u201d These Fib levels would put ETH at $7,752, $9,883 and $14,011 respectively.<\/p>\n
On the monthly chart, the analyst centers his case on the log-scale Fibonacci structure and volatility regime. ETH, he says, spent months stalling around the 0.886 retracement near $4,000\u2014the same zone that repeatedly repelled the market in prior attempts\u2014but \u201clast month, we had the break through that here, convincingly.\u201d<\/p>\n
He notes that the wick of the latest push already poked above the wick from the November 2021 peak, reinforcing the idea that supply at the former top is thinning. Simultaneously, the monthly Bollinger Bands<\/a> are expanding while price \u201cis impulsively going to the upside here along with the upper Bollinger Band,\u201d a backdrop he describes as consistent with trend acceleration rather than mean reversion. \u201cIt does favor some of the higher targets to be met,\u201d he said, while stressing sequencing: \u201cWe need to kind of break above the previous all-time high here first before we can actually talk about moving further up.\u201d<\/p>\n A second pillar of the bullish thesis is the Ichimoku profile across cycles\u2014specifically the fusion of Tenkan-sen (conversion line) and Kijun-sen (base line). \u201cWhen you have the Tenkan and Kijin fused together and price is riding up along with it, this fusion over here is called Katana,\u201d he explained. Historically, he said, this \u201cprecipitates a big move,\u201d and with price now above the Katana, \u201cthe Katana is shooting the price up.\u201d On the current structure: \u201cWe got a Katana here being built up and price is currently impulsively going to the upside, so that is also favorable for Ethereum.\u201d<\/p>\n On the weekly timeframe, Cantonese Cat frames ETH\u2019s advance through a three-cycle template defined by a \u201ccycle liquidity zone\u201d acting as a pivot. Each prior cycle saw deviations above and below a governing trend line before a sustained move once the zone was recaptured. He places the present consolidation directly on that blueprint: after breaking the \u201c$4,000 liquidity level,\u201d ETH is \u201cconsoling sideways\u2026 trying to find some energy before breaking up higher.\u201d A back-test is possible but not required, he said; the \u201cprimary case\u201d remains continuation unless the chart invalidates.<\/p>\n The lower timeframes, in his view, are already aligning with that outcome. On the daily chart, he highlights a developing \u201cAdam and Eve continuation pattern\u201d nested within a classic cup-and-handle, where \u201cthe handle\u2026 volume is not that great,\u201d which he views as textbook, followed by \u201ca pretty decent volume bullish engulfing<\/a> candle.\u201d<\/p>\n Measured against log-scale retracements, price was rejected at 0.786, found support at 0.5, and is now \u201ctrying to break through 0.6\u2026 work our way back\u2026 to 0.786,\u201d a rhythm he says \u201cis being respected pretty decently.\u201d He also points to a short-term bottoming sequence\u2014\u201cyou can see something called a tweezer bottom\u2026 if you have anywhere around two or three of these kind of wick sticking down like that, that\u2019s usually a pretty decent bottom\u201d\u2014and a three-candle \u201cmorning star\u201d reversal: \u201cIt\u2019s a reversal pattern and it could end up leading to a reversal here\u2026 seems to be working out pretty well.\u201d<\/p>\n On the 12-hour chart, he reads the structure as reaccumulation in a Wyckoff sense, referencing the \u201crounded bottom,\u201d a strengthening secondary test\u2014\u201cthe ST is higher than the VCLX\u201d\u2014and the emergence of a \u201ccreek\u201d overhead that price appears ready to vault. \u201cIt does look like a reaccumulation type pattern\u2026 showing some strength\u2026 consolidating sideways\u2026 to reaccumulate before [a] bullish continuation,\u201d he said, adding that after the prior vertical leg, digestion at elevated levels is constructive.<\/p>\n Relative-strength diagnostics, he argues, reinforce the ETH-led narrative. Ethereum\u2019s market-share gauge (ETH.D) \u201chas broken above the Ichimoku cloud\u2026 with strength,\u201d then \u201cback-tested the cloud for about four weeks,\u201d and may be waiting for the Tenkan to \u201crise\u2026 as support\u201d before the next leg. On a monthly volatility basis, he adds, \u201cthe 20-month moving average was reclaimed\u2026 and we simply spent a month here back-testing\u201d it\u2014evidence that dominance could trend higher if the back-test holds. \u201cThat\u2019s basically meaning that Ethereum wants to continue to outperform the rest of the cryptocurrency market here for [the] foreseeable future,\u201d he said.<\/p>\nLower Timeframe Signals<\/h2>\n