Matrixport: The Ethereum "triangle" pattern is approaching a critical position, and direction confirmation may come in 2026

Matrixport released a chart today stating that during the last cycle, Ethereum attracted incremental funds due to expectations of expansion in the smart contract platform ecosystem and the narrative of "programmable money," driving prices up rapidly from 2020 to 2021; at the peak of sentiment in 2021, the market once had expectations of reaching $10,000. However, the trend did not continue upward.

After retreating from its high, Ethereum entered a long-term consolidation phase, generally moving within a large triangular consolidation range. Over the past few years, the price has primarily fluctuated within this range, with no significant trend. Structurally, the price has attempted to break out of the range twice (once downward and once upward), but neither attempt was sustained, and it quickly returned to the range. Until a direction is confirmed, the market will remain primarily in a state of fluctuation. The current triangular formation is clearly converging, with the price's operating space continuously compressing, and the structure is approaching its conclusion.

As this long-term consolidation gradually comes to an end, 2026 may become a key window for Ethereum to complete its directional choice and enter the next phase of movement.