Ethereum Accumulation Phase Raises Breakout Bets to $20,000
Ethereum may be entering an accumulation phase, a setup that could precede a major breakout, according to long-term chart comparisons shared by analysts Crypto Patel and Freedom By 40.
Crypto Patel's chart compares Ethereum's current structure with the cycles that produced major peaks in 2017 and 2021. Both periods included a strong rally, a prolonged correction, and an accumulation phase before the next expansion began.
Ethereum is trading near $1,860, above the chart's main support area around $1,000 to $1,350. Holding that zone would preserve the analyst's cycle comparison and allow Ethereum to continue building a possible long-term base.
A decisive breakdown below $1,000 would weaken the bullish structure and invalidate the chart's main accumulation thesis. The first major resistance sits near $3,945. A sustained move above that level would strengthen the recovery and place the previous record high back in focus.