ETH’s $20K “Ignition Sequence” — 7 Years in the Making 🚀

[etfs]

ETH/USD: $4,230 — riding a bullish wave and smashing through levels not seen since late 2024.

Popular trader Merlijn says ETH is still locked in a lifelong rising price channel — the same one that took it from $100 → $4,000. He’s now calling for a potential run to $20,000 if history repeats… and maybe even beyond the channel for the first time ever.

Key takeaways from Merlijn’s chart:

Upper channel touched twice before:
1️⃣ 2018 top
2️⃣ Nov 2021 ATH at $4,875

Third touch target: up to $20K

RSI reset + momentum coiling = “ignition sequence armed” 🔥

Quote:

“One breakout that changes everything. Next stop? Straight to the top of the channel and beyond.”

Against BTC:

ETH/BTC is still way off its 2021 high of 0.0883 — needs +150% to match

Up 15% vs BTC over the past week, but still near yearly open

Trader BitBull says: strong weekly close above $4.1K = new ATH in 1–2 weeks

Sentiment check:

Massive short squeeze + institutional buying driving this leg up

Channel pattern has been in play for 7 years — traders watching for that historic breakout

TL;DR:
ETH could be entering a parabolic phase, with some eyeing $20K targets if the rising channel holds. But vs BTC, there’s still a mountain to climb.

So… is this the final coil before liftoff or just another fake-out?

[jacson4]

That lifelong rising price channel Merlijn’s talking about is one of the cleanest macro patterns in crypto. If it’s held from $100 all the way to $4,000+, it’s hard to argue against the idea that it could carry ETH to $20K — especially with RSI reset and momentum coiling like this.
The fact that we’ve only touched the upper channel twice before — in 2018 and at the Nov 2021 ATH — makes this potential third touch even more significant. If we break beyond it for the first time in history, it wouldn’t just be another bull run… it would redefine ETH’s price structure entirely.
Institutional flows, the short squeeze setup, and ETH’s recent dominance gains over BTC all point to the possibility that this is more than just hype. If history rhymes, this could be the “ignition sequence armed” moment we’ve all been waiting for.

[Nahid10]

ETH at $4,230 and climbing is impressive, but the real story here is the macro chart. A 7-year rising channel that’s only seen two upper touches is no joke — and if Merlijn is right, the third could send us into uncharted territory near $20K.
The ETH/BTC pair still being far from its 2021 high is actually bullish for ETH/USD, because it means there’s room for ETH to outperform BTC in this cycle. A strong weekly close above $4.1K could light the fuse, and the combination of institutional buying + a short squeeze could turn it into a vertical move.
Of course, no pattern is guaranteed, but this setup has all the hallmarks of something historic. Whether it’s a clean run to the top of the channel or a full breakout beyond, I’m not betting against this trend right now.