Originally published on: December 01, 2024
Ether is on the verge of a major breakout, with a potential surge of up to 97% in the next four months, according to a prominent crypto analyst. The analyst highlighted a 3-year cup-and-handle pattern forming on the price chart, indicating a bullish trend for Ethereum.
If Ethereum manages to hold $3.8k as support, the analyst predicts a first price target of $5,349, followed by $6,457, and a third target of $7,238 to be achieved by the end of Q1 2025. This would signify a substantial increase from Ether’s current price of $3,669.
Despite Ether’s recent 47% price increase, the analyst believes that the price has not yet exploded due to the strength of the United States dollar index (DXY). However, with the DXY expected to experience a significant breakdown, Ether is poised for a major rally.
Other notable crypto traders have also weighed in on Ether’s potential price trajectory. Titan of Cryptoforecasted a target of $5,800, citing the Ichimoku Golden Cross on the weekly timeframe. Additionally, Crypto trader Wolf boldly predicted Ether to reach $9k-10k by May 2025.
For investors looking to capitalize on Ether’s future gains, pseudonymous trader Doctor Profit recommended buying opportunities below $4k, stating “Everything below 4k is a gift for the mid-term.” With the crypto market heating up and spot Ether ETFs in the US seeing record inflows, the stage is set for Ether to soar to new heights.
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