A recent analysis by TradingView analyst melikatrader94 points to the formation of a Right-Angle Broadening Formation (RABF) on the daily candlestick chart, a rare but powerful continuation setup that has been in play since March 2024.
The last time Ethereum bounced off this support trendline was in early April 2025, when it reached a low of $1,470. Since then, it has increased by about 194% up until the time of writing, where it is now attempting to break above the upper trendline.
According to the measured move principle, the breakout target is derived from the pattern’s vertical height, which is roughly $2,070. Adding this vertical height to the breakout level at $4,300 results in an initial price objective of $6,370. However, a strong bullish momentum beyond that milestone would see Ethereum extend its rally to as high as $8,500.
