Ethereum is once again at the center of long-term bullish speculation as Matrixport highlights a potentially explosive technical setup forming on its price chart.
According to the crypto financial services firm, Ethereum may be approaching the end of a multi-year consolidation phase, raising expectations of a major breakout in 2026 if key resistance levels are cleared.
Matrixport Flags Multi-Year Triangle Formation on Ethereum’s Chart
In its latest market outlook, Matrixport pointed to a large symmetrical triangle that has been forming on Ethereum’s higher-timeframe charts since the 2021 market peak. Such patterns typically emerge during extended periods of accumulation, where buying and selling pressure gradually converge before a decisive breakout.
Meanwhile, according to Matrixport, this monster triangle has already given two false signals, one bullish and the other bearish, but quickly reversed back. However, a look at the multi-year chart shows that the structure is rapidly tightening, and this could lead to a decisive breakout in 2026. Each cycle has seen higher lows, while overhead resistance has remained relatively stable, tightening the price range over time.
Thus, 2026 could be pivotal for Ethereum, as a break above the upper boundary of this triangle could trigger a fresh uptrend, similar to the breakouts seen in previous bull cycles, according to Matrixport analysis. In this case, ETH could race toward the coveted $10,000 mark; however, a break below could extend Ethereum’s consolidation phase, delaying any major rally.
Fundamentals Strengthen Long-Term Ethereum Bullish Case
Beyond technicals, Ethereum’s fundamentals continue to support a bullish long-term narrative. The network remains the dominant smart-contract platform, powering decentralized finance (DeFi), non-fungible tokens (NFTs), and a rapidly growing layer-2 ecosystem.
Ongoing scalability improvements, including the upcoming Glamsterdam scaling upgrade scheduled for 2026, increase Ethereum’s appeal. Additionally, institutional adoption is another catalyst that could support the price in the coming year.
In Ethereum’s case, SoSoValue data shows that spot Ethereum ETFs now have a cumulative net inflow of $12.33 billion, and Fidelity’s FETH recorded a modest inflow of $3.65 million. Furthermore, institutions continue to accumulate more ETH, and one such is Tom Lee’s Bitmine, which currently holds 3.41% of the Ethereum supply.
Meanwhile, ETH’s deflationary token mechanics, driven by transaction fee burns, could also amplify its upside momentum during periods of heightened network activity.
Ethereum Price Outlook as 2026 Approaches
According to CoinMarketCap, Ethereum has continued to consolidate below the $3,000 level, where a resistance wall is present. Currently, ETH hover around the $2,974 mark and has seen a 1.7% increase in the past 24 hours.
In the short term, crypto market expert Ted Pillows stated that Ethereum needs to reclaim $3,000 before sustaining any upward move. For now, traders and investors are closely monitoring ETH’s price behavior near key technical levels, as the next decisive move could define Ethereum’s coming multi-year trend.
The CoinRemark Team
