Bold Ethereum Forecast: $5,800 Next, Then $8,600 ‘Euphoria Zone’ 

Ethereum has just completed a major breakout from a multi-year bullish market structure, according to analysis by Bitcoinsensus. The recent surge in price follows a successful retest of a long-standing trendline from above—often interpreted as a strong bullish confirmation signal.

This breakout has put Ethereum back on traders’ radar as a leading candidate to trigger the next major altcoin rally, or Altseason.

With momentum indicators like the weekly MACD flipping bullish three weeks ago, historical patterns suggest a significant upward move may be underway. Each previous bullish MACD crossover has historically led to sharp ETH price gains.

Currently, the chart identifies two key upside targets:

$5,800, marking the next immediate resistance level. $8,600, labeled as the “Euphoria Zone,” signaling a potential parabolic phase.

The Ethereum chart shows a price channel dating back to 2021, with the recent breakout re-entering the upper band of that bullish formation. If the pattern holds, ETH could be in the early stages of a much larger macro uptrend.

As history may not repeat but often rhymes, analysts suggest the current setup could be a precursor to a full-blown altcoin season.

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