The leading altcoin, Ethereum ($ETH), is potentially reaching a key price surge. The data from Gert Van Lagen shows that Ethereum ($ETH) is experiencing retesting of a Descending Broadening Wedge pattern while targeting surge to $9K, mirroring Bitcoin’s performance back in August 2024. The popular crypto analyst considers this to be a key indication of a continuation in the ongoing bullish trajectory. Based on the historical data, the respective pattern mostly, approximately sixty-five percent of the time, leads to bullish continuation.

1/2 $ETH [1W] – Retest of the Descending Broadening Wedge after breakout to upside (79%) – 2nd try.

67% of the time it's a continuation pattern and the trend is up.

Target zone ~$9k at sell line. $BTC has shown the same pattern, see 2/2. pic.twitter.com/IKQxTJniBb

In line with the market data, Ethereum ($ETH) is currently going through the retesting of a Descending Broadening Wedge pattern. This pattern usually resolves in a bullish continuation, as seen in 67% of the cases. The analyst has pointed out that $ETH has already seen a breakout from the respective pattern with a resilient 79% move. However, now, while re-testing its upper boundary for the 2nd time, it signifies a bullish consolidation.

Additionally, the present trajectory aims for a staggering $9,000 mark, where it is possible for the price to likely reach the sell line. Hence, such price pattern shows trader optimism as several consider this wedge pattern as a triggering point for a massive rally. To back his point, the analyst has assimilated Ethereum’s current pattern with Bitcoin’s ($BTC) pattern during August last year, which led to bullish continuation. Keeping this in view, Ethereum is potentially gearing up for another leg up amid positive market setup.

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