Ethereum Rises Above $2,200 Indicates End of Bear Market, Analyst Predicts $5,791 as ‘Simple’ Goal

Ethereum’s Price Surge Signals a New Trend

After weeks of uncertainty, Ethereum seems to have turned a corner both psychologically and technically. In the past five days, a strong upward momentum has pushed Ethereum’s price past the $2,200 mark, marking a significant increase of over 32% just this week. This rise coincides with Bitcoin crossing the six-figure threshold, which has also lifted the broader cryptocurrency market.

A technical analysis of Ethereum’s Daily Candlestick chart suggests that this rally isn’t merely a response to Bitcoin. Instead, it may indicate the beginning of a new long-term upward trend.

$2,200 Breakout Marks End of Bear Market

This recent price surge has set Ethereum firmly above $2,000, a level that acted as a barrier from late March to early April. According to a technical analysis by Crypto analyst MasterAnanda on TradingView, Ethereum’s bear market seems to be officially over.

This statement comes alongside what analysts have described as significant bullish activity in recent days. Many believe this positive momentum will solidify Ethereum’s position and lead to consistent growth over the coming months.

The recent gains were noted on August 5, 2024, and February 3, 2025. The chart illustrates that Ethereum has convincingly escaped from a steep descending channel that had confined its price for months.

The breakout is backed by a large green candle showing unusually high trading volume, reinforcing the belief that the bear phase has indeed ended.

As one analyst noted, “This is just the beginning,” suggesting that Ethereum is already on the road to reclaiming its all-time high.

Possible Targets for Ethereum

According to MasterAnanda’s analysis, Ethereum’s current trajectory could easily lead it to a Fibonacci expansion level around $5,791.78, which he considers quite attainable. This outlook is bolstered by the strength of the breakout and the capital inflow apparent behind it.

Reaching the $5,791 target would open the door to new price territories, surpassing Ethereum’s previous peak of $4,878. Furthermore, some forecasts suggest that a $10,000 Ethereum is not just possible but likely, spurred by institutional investment and increasing retail interest by the end of 2025.

A chart mapping various Fibonacci levels indicates potential resistance and retracement points, ranging from $2,421 at the 0.382 expansion to $5,791 at the 1.618 expansion.

Analysts estimate that approximately $250 billion in capital has entered the crypto market during this wave, with between $15 billion to $30 billion already invested. The excitement is expected to escalate as additional capital flows in.