TechFlow news, July 21 — According to Cointelegraph, analyst Gert van Lagen noted that Ethereum (ETH) is entering a "final surge" phase and could be heading toward the $8,000 level. He found that ETH’s current price structure bears a striking resemblance to the Dow Jones bull market pattern seen in 1980.
The analysis is based on a "textbook expanding diagonal" pattern — this expanding wedge formation has provided strong support for Ethereum’s main rallies since mid-2022. Currently, ETH is trading within the upper and lower boundaries of this pattern, with a potential target reaching the upper boundary around $8,000 by early 2026.
Technically, ETH has re-established its multi-year uptrend line as support and is consolidating within an ascending triangle pattern. A breakout above the resistance zone of $3,900–$4,150 could trigger a rally toward $7,150, approaching the target level of the wedge pattern.
Analysts say macroeconomic factors such as anticipated Federal Reserve rate cuts and continued inflows into ETH ETFs could support this upward trend.
