Ethereum surged above $2,200 indicating that the bear market has ended.

After several weeks of consolidation and instability, Ethereum seems to have reversed a significant psychological and technical corner. The bullish momentum over the past five days has caused Ethereum's price action to surge past the $2,200 mark with confidence, increasing more than 32% in just the last seven days. The breakout occurred as Bitcoin surpassed the six-figure mark once again, driving the crypto market as a whole along with it. According to the technical analysis of the daily candlestick chart of Ethereum, this bullish trend is not only a response to Bitcoin; but also the beginning of a new long-term upward trend. The breakthrough level of $2,200 confirms strength, analysts declare the end of the bearish market. The recent bullish trend has pushed Ethereum well above the $2,000 mark, a price that acted as a ceiling in late March and early April. According to technical analysis posted on the TradingView platform by crypto analyst MasterAnanda, the bear market for Ethereum has finally come to an end. This comment is based on what analysts call actual bullish action, combined with very large volumes over the past few days. In turn, this confirms a very strong high in the coming weeks and days, as Ethereum will continue to grow daily for many months. The recent bullish run has pushed the price above the lows of August 5, 2024, and February 3, 2025, marked on the chart posted by the analyst on TradingView. The chart also shows that Ethereum has convincingly broken out of the steep descending channel that has constrained its price for months. This breakthrough is very convincing as a large green candle accompanied by unusually high trading volume has marked the breakout, providing confidence in the view that the downtrend phase has ended. "This is just the beginning," the analyst wrote, adding that the path to reclaiming Ethereum's all-time high has begun.

$5,791 is an 'easy' target, $10,000 by 2026 is 'achievable'. According to MasterAnanda's analysis, the current bullish phase could easily push Ethereum to the Fibonacci extension level of 1.618 near $5,791.78. He describes this target as "easy," considering the strength of the breakout and the influx of capital that seems to be forming thereafter.

Reaching the price target of $5,791 would translate into a breakthrough to uncharted price areas above the current all-time high of Ethereum at $4,878. However, the predictions do not stop there. Ethereum at $10,000 is not only possible but also likely to occur before the end of 2025 due to the influx of institutional capital and retail sentiment flooding into the crypto market. The chart illustrates the recovery path of Ethereum with various Fibonacci levels drawn, showing resistance and retracement points ranging from $2,421 at the 0.382 extension level to $5,791 at the 1.618 extension level. Analysts note that around 250 billion dollars of capital could ultimately flow into the crypto market during this wave, with 10 to 15 billion dollars already in play. He argues that the phase of excitement will begin when the remaining capital is injected.