Originally published on: December 07, 2024
Ethereum is following in XRP’s footsteps with a remarkable price surge of over 390% due to its native token, EtherETH.
XRP’s breakout in November, skyrocketing from $0.50 to $2.94 after six years of consolidation, set the stage for Ethereum’s potential ascent. Ethereum has now broken its three-year-old symmetrical triangle pattern, indicating a similar parabolic rally in the making.
Should Ether’s price mimic XRP’s trajectory, experts predict a climb towards $7,636 by the end of 2024 or early 2025, marking a substantial 90% gain. The current weekly relative strength index (RSI) suggests there is still ample room for upside potential, much like prior to XRP’s historic surge.
Market analyst “VentureFounder” foresees an impending “impulse breakout” for Ethereum, drawing parallels between the current Ethereum setup and its explosive growth back in 2016-2017. The analyst anticipates a surge to $15,937 by May 2025, potentially catapulting Ethereum’s market capitalization over $1 trillion for the first time ever.
To realize this bullish forecast, VentureFounder stresses the significance of Ethereum maintaining $3,800 as a solid weekly support level. With consistent inflows into US-based spot Ethereum exchange-traded funds (ETFs) reaching remarkable highs, Ethereum’s future looks increasingly promising.
Disclaimer: This article is not intended as financial advice. Please conduct your own research before making any investment decisions.
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