Ethereum (ETH) has shown impressive performance recently, with a price surge of 20% in the last 24 hours and an astounding increase of 45% over the past seven days. This strong momentum has attracted widespread attention in the market, with some analysts even predicting that its price could potentially break historical highs, reaching an astonishing level of $9,500.

The latest technical analysis shows that Ethereum is in a critical price pattern. Since March of this year, a rare but strong Right-Angled Broadening Formation (RABF) has appeared on the daily chart. This pattern usually indicates that the price may experience a significant increase.

Currently, Ethereum is challenging the key resistance zone between $4,200 and $4,300. Analysis indicates that if it can successfully break through this range, it may initiate a strong upward trend. According to the measurement method of the RABF model, the initial target price is around $6,370. If market sentiment remains bullish, it could even push the price up to a high of $9,500.

However, investors also need to remain cautious. To achieve this ambitious goal, Ethereum needs to establish solid support above $4,300, accompanied by a large volume of trades. Analysts expect that if a successful breakout occurs, the price may briefly consolidate around $5,100 before continuing to rise.

It is worth noting that if Ethereum fails to hold above $4,300, it may fall back to support levels of $3,700 or even $3,200. As of the time of writing, Ethereum is trading at $4,320, with a 24-hour increase of 1.1%.

Compared to other major cryptocurrencies, Ethereum has performed well recently. In the past 24 hours, Bitcoin, XRP, and Solana have dropped by 2.2%, 3.5%, and 4% respectively, highlighting Ethereum's relative strength.

Whether this wave of rising momentum can be sustained and whether Ethereum can reach the new highs predicted by analysts remains to be further verified by the market. Investors should comprehensively consider various factors when making decisions and view market fluctuations rationally.