Ethereum Price ‘Wants to Explode’ — Analyst Asserts Citing 3 Major Signals

Ethereum’s native token, Ether (ETH), is flashing multiple bullish technical signals that point toward an imminent breakout, according to a market analyst, CryptoGoos.

$ETH wants to explode.

Just look at the charts… pic.twitter.com/BnAm0lXmau

— CryptoGoos (@crypto_goos) June 5, 2025

The convergence of three key indicators—bull pennants on ETH/USD and ETH/BTC pairs, along with a strengthening Ethereum dominance (ETH.D)—suggests that Ethereum’s price could be on the verge of a significant move.

ETH/USD Bull Pennant Points to $4K Target

Ethereum is consolidating within a bull pennant on the daily chart, suggesting a potential breakout toward $4,000–$4,200. The pattern formed after ETH surged from below $1,900 to over $2,700 in early May, with price action now tightening between converging trendlines.

ETH holds above its 20-day and 50-day EMAs, while declining volume supports the consolidation phase. A breakout above $2,800 could trigger the next leg higher, with a target near $4,067. The RSI at 62 shows room for further gains, though failure to break resistance may prompt a retest of support around $2,535.

ETH/BTC Structure Suggests Breakout Toward January 2025

Ethereum is consolidating against Bitcoin in a bull pennant pattern, suggesting a potential breakout toward the 0.0347 BTC level. The pair surged sharply in early May and has since formed higher lows and lower highs within converging trendlines.

The price holds above both the 20-day and 50-day EMAs, with volume declining—a classic pennant setup. A confirmed breakout above 0.0256 BTC could trigger a rally, with the flagpole height projecting a move of nearly 40% from current levels.

ETH Dominance Nears Breakout Amid Capital Rotation into Ethereum

Ethereum’s market cap dominance is consolidating inside a bull pennant, hinting at a breakout toward the 13% level. After jumping from 7.5% to nearly 9.8% in early May, ETH.D has formed a tight range between rising support and horizontal resistance.

The structure appears bullish, with ETH.D holding above the 20-day and 50-day EMAs. A confirmed breakout above the 10% level could extend the dominance rally toward the 12.9% zone, reflecting broader market rotation into Ethereum.