Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Ethereum is flashing signs of an aggressive upside move, with well-known crypto analyst Kaleo (@CryptoKaleo) forecasting what he described as a โGod candleโ that could propel ETH beyond the $4,000 mark within days. In a post on X, Kaleo wrote: โGod candle to $4K+ this weekโฆ honestly though I wouldnโt be surprised if we see something like this play out after todayโs news. Donโt let them shake you out if it happens anon. up only soon.โ
In Kaleoโs chart, the EtherโUSDT pair is sketched inside an ascending wedge whose upper boundary has capped every rally for more than three months. That resistance line now sits near $3,000, while the lower boundary originates near $1,450 in early April and accelerates through $2,600 by late June.
Ethereum Breakout Fuels $4,000 Hopes
The pattern briefly failed in mid-June, when price sliced through support and bottomed near $2,100โan episode Kaleo tags โBreakdown.โ Three week later the market closed decisively back above that very line, an event he annotates โReclaim,โ converting former support turned resistance back into a springboard.
Related Reading
Candles since the reclaim have marched steadily higher, compressing volatility against the wedgeโs apex until earlier this week when price punched through the ceiling at roughly $3,030. At the moment the screenshot was taken the pair traded near $3,041, and a hand-drawn white projectionโlabelled โSendโโplots a near-vertical advance that crests just above $4,000.
The projection takes its height from the widest section of the wedge: the distance between the early-May trough and the mid-May swing high measures a little over $1,000; adding that amplitude to the breakout point delivers a classical measured-move objective in the low-$4,000s, matching Kaleoโs target.
Related Reading
Also importantly, price has reclaimed the psychological $3,000 handle on convincing momentum, turning what had been the midpoint of the range into fresh support. Intermediate friction zones appear near $3,344โthe 0.618 Fibonacci retracement also known as the โgolden pocketโ but the projection assumes these levels will offer little resistance should a โgod candleโ materialise.
Kaleoโs prediction comes on the heels of a broader riskโon backdrop: Bitcoin is accelerating towards its record high near $123,000 from last week as investors embrace a steadier macro environment. For Ether specifically, enthusiasm has been amplified by an SEC filing revealing that PeterโฏThielโs Founders Fund accumulated a 9.1โฏpercent stake in Bitmine โฏImmersionโฏ Technologies, the TomโฏLeeโchaired public company that has stockpiled more than 163,000โฏETHโroughly half a billion dollarsโ worthโas part of an aggressive Ethereumโtreasury strategy.
The twin tailwinds of macroโdriven liquidity and highโprofile venture endorsement reinforce Kaleoโs thesis that a โgod candleโ toward the $4,000 mark could ignite before the week draws to a close.
At press time, ETH traded at $3,225.
Featured image created with DALL.E, cart from TradingView.com
