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07/21 11:50

ETH pattern echoes 245% gains in 2022–2024

ETH pattern echoes 245% gains in 2022–2024

At the core of Lagen’s outlook is a “ textbook expanding diagonal.”

It is a broadening megaphone pattern, whose lower trendline has served as strong support to Ethereum’s previous major rallies since mid-2022, including a 245% rally in the November 2022-February 2024 session.01982c53-50d8-702a-a136-a69ac2bfa7eb.webp

As of July 21, ETH trades midway between the pattern’s upper and lower bounds, rebounding from the lower trendline in March. It now eyes a run-up toward the upper trendline, sitting near the $8,000 level, by early 2026.To support this thesis, Van Lagen points to a similar setup in the Dow Jones hourly chart from 1980, which followed an expanding diagonal before peaking.01982c5b-6242-75c6-8c8b-02e938d6a4cc.webp

He further aligns this pattern with Elliott Wave theory, which breaks bull markets into five psychological phases.

Ethereum is now in its fifth and “final surge” wave, or the blow-off top. This is typically the most volatile stage, where momentum accelerates, price action becomes unpredictable, and late buyers rush in.

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