Crypto analyst Merlijn The Trader is calling Ethereum’s recent price action a “Wyckoff masterclass,” and his latest 2‑day chart breakdown on X frames ETH’s 2025 moves as a textbook Wyckoff accumulation setup that could presage a powerful upside if the structure holds. What’s been happening - Over the past several days ETH has been rangebound between roughly $3,050 and $3,400, with no sustained break above or below. At the time of the post, ETH was trading near $3,100. - Merlijn’s annotated 2‑day chart traces the accumulation sequence across 2025: a “spring” that briefly pushed ETH below $1,500 in H1, a quick recovery back into the range, and a subsequent rally that topped out at a selling climax (SC) near $4,946. - That SC and the automatic reaction that followed established the trading range that has dominated recent months. On Merlijn’s read, ETH has been working through Wyckoff Phase D and now appears to be gearing up for the Phase E breakout. Why Phase E matters - In Wyckoff theory, Phase E is the final markup stage: price decisively leaves the selling zone and trends higher with rising momentum. If Ethereum transitions into Phase E as projected, the chart shows the potential for a sharp vertical expansion once overhead resistance is cleared. - Merlijn’s projection highlights a multi-step advance rather than a straight line: an initial push to new all‑time highs, a modest rejection around the $5,000 area, then a pullback/verification forming a Backup and Last Point of Support (BU/LPS) around ~$3,750. Holding above that BU/LPS during the pullback would, according to the model, confirm structural strength. Targets and caveats - If the Wyckoff roadmap continues to play out, Merlijn points to a long‑term objective of $10,000 and beyond after the BU/LPS verification and renewed markup. He stresses, implicitly, that this scenario depends on the structure remaining intact. - As with any technical framework, Wyckoff outlines probabilities and scenarios, not guarantees. Breakouts, failed structures, and macro catalysts can change the picture quickly. Chart and image credits: TradingView (chart), Unsplash (featured image). Read more AI-generated news on: undefined/news

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