Ethereum’s Megaphone Pattern Signals Potential Surge to $7.7K–$9.9K in the Long Run
Key Highlights:
- A well-known crypto analyst predicts ETH could rise to $7.7K–$9.9K, citing a megaphone chart pattern (rising broadening wedge).
- This pattern has formed on the weekly chart, suggesting a long-term price target rather than an immediate breakout.
- Despite current market struggles, historical price movements indicate Ethereum’s potential for major gains.
Ethereum’s Price Action: A Bullish Pattern in Formation
Ethereum has been losing market share and experiencing weak sentiment, falling over 30% from its November highs and entering a technical bear market. However, Titan of Crypto, a respected analyst, sees this as a setup for a significant bullish move.
The Megaphone Chart Pattern and ETH’s Long-Term Outlook
Ethereum’s price has been forming a giant megaphone pattern, also known as a rising broadening wedge, since 2023. This formation consists of higher highs and higher lows, with trendlines expanding in a divergent pattern, resembling a megaphone.
Recently, ETH touched the lower boundary of the megaphone, which the analyst believes sets the stage for a major rebound. Based on this formation, Ethereum is projected to climb to $7,700–$9,900 in the long term, marking a potential 178%–258% surge from its current price of $2,766.
Timeframe for Ethereum’s Projected Growth
Given that this pattern is forming on the weekly chart, the analyst estimates that ETH will reach the $7.7K–$9.9K range by 2026. Historical price trends support this possibility:
- Ethereum has surged 212% from its May 2022 low.
- ETH has gained 3,700% from its 2020 bottom, proving its long-term growth potential.
Short-Term Ethereum Price Trends
While Ethereum’s long-term outlook is bullish, its short-term movement remains uncertain. Factors impacting ETH’s price include:
- Weak spot ETF inflows and sales by the Ethereum Foundation.
- Increased competition from Solana and BNB Chain, leading to declining market dominance.
- Ethereum’s fee revenue being overtaken by projects like Jito, Circle, and Tron.
Additionally, ETH has formed a death cross on the daily chart, where the 50-day moving average has fallen below the 200-day MA. Historically, this signal led to a 20% decline in August 2024.
Potential Bullish Breakout Signals
Despite near-term challenges, Ethereum has also formed a bullish pennant pattern, which could trigger a breakout if ETH surpasses $3,000. A move above this level would:
- Invalidate the death cross signal, signaling renewed bullish momentum.
- Open the door for further gains toward ETH’s long-term targets.
However, a drop below $2,520 could invalidate the bullish outlook, potentially leading ETH to retest its monthly low of $2,160. 
Conclusion
While Ethereum is facing short-term market challenges, the megaphone pattern on the weekly chart suggests a long-term bullish trajectory. If historical trends hold, ETH could surge toward $7.7K–$9.9K by 2026, making it a key asset to watch in the coming years.
