Ethereum Could Rise Above $4,000 This Week, Analyst Predicts

Ethereum is showing signs of a strong bullish trend, with the famous cryptocurrency analyst Kaleo (@CryptoKaleo) predicting what he calls a "God candle" (God candle) could push ETH above the $4,000 mark in the coming days. In a post on X, Kaleo wrote: "The God candle will go above $4,000 this week... but to be honest, I wouldn't be surprised if we see something similar happen after today's news. Don't let them baffle you if that happens unexpectedly. Soon enough."

In Kaleo's chart, the Ether-USDT pair is depicted within an ascending wedge pattern with the upper boundary having blocked every bullish attempt for more than three months. This resistance line is currently near $3,000, while the lower boundary starts from around $1,450 in early April and accelerates to $2,600 by the end of June. Ethereum's Breakthrough Ignites Hope to Reach 4,000 USD This model failed briefly in mid-June, when the price cut through the support level and hit a low near $2,100 - an event that Kaleo labeled as "The Collapse". Three weeks later, the market decisively closed back above that very line, an event he annotated as "Reclaim", turning the previous support level back into resistance and becoming a springboard. The candle has been steadily increasing since the recovery, compressing volatility down to the peak of the wedge pattern until the beginning of this week when the price broke through the ceiling at around $3,030. At the time the screenshot was taken, this currency pair was trading near $3,041, and a hand-drawn white projection labeled "Send" indicates an almost vertical increase, peaking just above $4,000. The height of the projection is calculated from the widest part of the wedge: the distance between the bottom at the beginning of May and the peak oscillation in mid-May is just over $1,000; adding that amplitude to the breakout point will yield a classic measured move target at $4,000, aligning with Kaleo's target. One more important thing is that the price has reclaimed the psychological level of $3,000 thanks to strong bullish momentum, turning the midpoint of the range into a new support level. Intermediate friction zones appear near $3,344 - the 0.618 Fibonacci retracement level, also known as the "golden pocket", but forecasts suggest that these levels will not create much resistance if a "holy candle" appears. Kaleo's prediction comes in the context of broader risk sentiment: Bitcoin is accelerating towards a record high near $123,000 from last week as investors embrace a more stable macro environment. Specifically for Ether, the excitement has been amplified by an SEC filing revealing that Peter Thiel's Founders Fund has accumulated a 9.1% stake in Bitmine Immersion Technologies, the public company chaired by Tom Lee, which has hoarded over 163,000 ETH - worth about half a billion dollars - as part of an aggressive investment strategy in Ethereum. The dual push from liquidity driven by macro factors and the endorsements from major venture capital firms reinforce Kaleo's thesis that a "holy candle" targeting the $4,000 mark could ignite before the end of this week.