Ethereum (ETH) is down a bit lately. After a brief price increase last week, it’s dropped 2.4% in the last 24 hours, trading around $3,577. That’s a 26.8% decrease from its all-time high of $4,878 in November 2021. But don’t worry, trading volume is still strong at $42.4 billion—a big jump from last month.
Chart Patterns Suggest a Big Price Jump
Even though the price is down, many crypto analysts are optimistic about Ethereum’s future. They’re seeing some interesting patterns in the charts that suggest a big price increase soon.
Analyst Predictions
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CryptoBullet: This popular analyst spotted a “cup and handle” pattern on the monthly chart. They predict Ethereum could hit $6,675.
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Venture Founder: This analyst sees a “triangular consolidation” pattern similar to what happened between 2016 and 2017. They’re predicting a much bigger jump, potentially reaching $15,937 by May 2025!
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Clifton Fx: This analyst also sees a symmetrical triangle pattern (on the weekly chart this time) and believes a breakout could send Ethereum to $13,000.
Overall, many analysts believe Ethereum’s technical indicators point to a significant price rally in the future. While the current price might seem low, the long-term outlook appears bullish for ETH.
