Popular crypto trader, Merlijn The Trader, stated “THE $4,000 $ETH CURSE IS BROKEN,” shortly after Ethereum crossed above the $4,000 level. During the past, ETH was rejected 7 times trying to break above this resistance level. Now that the token has cracked above this level, the trader’s Ethereum price prediction lies in 5 digits. He stated that if you miss this move, you may end up buying ETH for a 5-digit premium price.
In particular, the trader predicted that ETH could hit $10,000 after it clears the $4000 resistance level, in a separate X thread. In this post, the trader mentioned that the bull trap was just below the $1,500 level.
At the time of publication, ETH is trading at $4,280 after gaining more than 20% during the past week. At the beginning of the week, the token was priced with a weekly opening market price of $3,548, and as the week progressed, the bulls took over the market and dominated throughout.
ETH price prediction—$7,000 after breaking the broadening wedge pattern
On the daily chart, ETH is trading inside a broadening wedge pattern, where the range of motion of the price fluctuation keeps increasing. A broadening wedge is a chart pattern where the price swings widen over time, forming two trendlines that move further apart. Unlike patterns where price movement tightens, here, volatility actually increases.
Inside the pattern, the market experiences larger highs and deeper lows, creating a shape that fans outward. This happens because both buyers and sellers become more aggressive — buyers push the price higher after each low, and sellers push it lower after each high. The tug-of-war intensifies, leading to unpredictable and often sharp moves within the wedge.
Investor behavior inside a broadening wedge is usually driven by emotion and uncertainty. Retail traders might jump in on big moves, thinking a breakout is happening, while institutional players sometimes use this volatility to shake out weaker hands. Although the price could shift to either direction, the ETH ETF futures market shows an increasing open interest. The open interest shows outstanding contracts or the money invested in ETH derivates. When this is high, it usually gives a bullish sentiment. As such, a breakout could be anticipated.
Based on the technical analysis, a breakout from the upper trendline of the broadening wedge, ETH might reach as high as $7,000. When a token breaks out from the broadening wedge, the price of the token appreciates by the height of the wedge at its narrowest. Given that the ETH breaks out conventionally, it could reach $7,000 on its way to $10,000.
