Following its remarkable surge to a new all-time high in August 2025, the Ethereum price has experienced a deceleration, fluctuating primarily between $4,200 and $4,400 in the aftermath of the correction. Despite the current fluctuations, the cryptocurrency, recognized as the second-largest digital asset by market cap, is anticipated to surge once more, having only just eclipsed its previous all-time high by a mere $100. According to analysts, the target for this cycle continues to be that Ethereum’s price will surpass the $5,000 threshold, with expectations that it won’t halt until it exceeds $6,000.
The recent drawdown, despite surpassing the Ethereum price by approximately 10% during that period, has not shifted the price action into bearish territory. Crypto analyst asserts that this is a healthy correction, positioning the altcoin for the upcoming bullish phase. One notable aspect is that the drawdown has resulted in a corrective phase rather than a freefall. This indicates that the pullback is a healthy sign for the digital asset and is quite bullish, particularly as the Ethereum price has consistently held an essential support zone above $4,100.
In the midst of the ongoing corrective phase, the crypto analyst highlights that Ethereum’s price is currently establishing a bullish flag pattern. A bullish flag pattern is recognized as a continuation pattern that typically emerges after a rapid price surge, succeeded by a short-term correction. The final segment of the bullish flag pattern is the breakout, and achieving this with volume gives the digital asset a distinct edge to sustain its upward momentum. The bullish flag pattern observed on the chart indicates that the primary factor that could disrupt Ethereum’s price trajectory is a failure of its support level. The current support level is firmly established at $4,100 and shows no signs of wavering. HAMED states that as long as the Ethereum price maintains this support level, the price action remains decidedly bullish.
A breakout from the bullish flag pattern is poised to trigger an impulse wave, which has the potential to propel prices to new all-time highs. An anticipated rally of approximately 50% is projected from this impulse wave, potentially driving the Ethereum price up to $6,500 before it concludes. “Keep a close eye on the flag breakout and watch for bullish momentum to resume once the consolidation completes,” the analyst stated. If the Ethereum price breaks below the support level, it could face significant challenges ahead. The next significant support is expected to be at the $4,000 psychological level, where bulls are likely to rally their defense.