The recent fluctuations of Ethereum (ETH) have sparked heated discussions in the market. Despite experiencing multiple pullbacks, these adjustments seem to have paved the way for a breakout. Looking back at the history of Ethereum, we can see that in November 2021, it approached a high of nearly $4900. Currently, ETH is still building a foundation below this historical high in preparation for the next wave of upward momentum.

From a technical analysis perspective, Ethereum is forming an interesting structure known as the "cup and handle". This pattern is considered a strong bullish signal, and in the past, Bitcoin and gold have also exhibited similar patterns when breaking through historical highs. If this pattern is confirmed, the price movement of Ethereum may go through the following stages:

First, ETH needs to break through the $4000 mark, which will confirm the establishment of an upward trend. Next, it will challenge the historical peak range of $4900 to $5000. If it breaks through successfully, driven by both sentiment and funds, the price may further climb between $8000 and $10000.

Some analysts have even made bolder predictions, suggesting that by 2026, the price of Ethereum could reach $15,000. Although this prediction may seem far-fetched, considering the high volatility of the cryptocurrency market and Ethereum's central position in blockchain technology, we should not completely rule out this possibility.

However, investors should bear in mind that the cryptocurrency market is full of risks and uncertainties. While technical analysis can provide some insights, the actual market trends are often influenced by a variety of factors, including global economic conditions, changes in the regulatory environment, and technological innovations. Therefore, it is crucial to conduct comprehensive research and risk assessment before making any investment decisions.

Regardless of the future price fluctuations of Ethereum, its ongoing innovations and applications in decentralized finance (DeFi) and smart contracts will continue to drive its important position in the crypto ecosystem. With the continuous upgrades and optimizations of the Ethereum network, its long-term value proposition may become even more prominent.