Ethereum Surges Past $4,300 as Analysts Eye $20,000 Target

- Ethereum surges 24% to highest level since December 2021. - Analysts eye targets from $6,000 to $20,000, citing key technical patterns. On August 10, 2025, Cointelegraph reported that Ethereum surged over 24% to surpass $4,300, its highest point since December 2021. According to the report, analysts attribute this rally to several bullish technical setups, including a breakout from a Wyckoff Accumulation pattern, a multi-year symmetrical triangle, and historical price fractals, which all suggest extended upside potential. A key factor driving the rally is a Wyckoff Accumulation pattern that developed over several months. According to Cointelegraph on August 10, analyst Lord Hawkins stated that Ethereum has moved out of its resistance zone near $4,200. On the same day, in a post on X (formerly Twitter), Hawkins called this achievement a "Sign of Strength." This breakout indicates a new uptrend, and the Wyckoff theory projects a potential price target of around $6,000. Hawkins noted that while a brief pullback may occur to confirm the breakout, the trajectory suggests a "markup phase," where price increases typically accelerate. Additionally, Ethereum has broken out of a multi-year symmetrical triangle. On August 10, in separate posts on X (formerly Twitter), analysts Crypto Rover and Titan of Crypto reported that the price rise above the $4,000–$4,200 range confirms this bullish pattern. This confirmation, they noted, creates room for a measured move targeting $8,000 in the upcoming months. Historically, similar long-term breakouts on Ethereum’s charts have produced sustained, multi-month rallies. Furthermore, historical price fractals point toward long-term gains that could drive Ethereum to $20,000 within six to eight months. On August 10, Cointelegraph reported that analyst Nilesh Verma highlighted Ethereum’s recent completion of a "bottom retest." This formation also appeared before steep rallies in 2017 and 2020, which led to gains of 8,000% and 950%, respectively. As Ethereum is recovering from a similar structural retest from April 2025, Verma suggests an achievable target of $10,000 and a best-case scenario of $20,000. In a post on X (formerly Twitter), analyst Merlijn The Trader supported this forecast, pointing to Ethereum's sustained movement within an intact, multiyear rising channel. According to CoinMarketCap, as of 17:09 UTC on August 10, Ethereum (ETH) was trading at $4,235.08, reflecting a 0.416% change over the past 24 hours.