Analysts are bullish about Ethereum’s price, suggesting a potential surge of up to $6,000. They argue this rise is inspired by a historical chart pattern resembling gold’s price movements in recent years. 2017 saw a similar breakout after a consolidation period, with Ethereum surging from under $10 to over $1,400 in just a few months. This pattern is now being replicated, as Ethereum shows signs of forming a similar five-point setup: two local tops followed by two major pullbacks and a rounded base before breaking out. This time, the price action seems to be following a similar path to gold’s breakout in 2024. If this pattern holds, Ethereum could break through its resistance zone between $3,000 and $3,500. This resistance area aligns with gold’s own breakout point. The surge is supported by technical indicators, with past fractal patterns showing a strong possibility of further growth. Furthermore, rising institutional interest in Ethereum, driven by the CoinShares data on investment funds, adds to the bullish outlook for the asset.