Ethereum is looking really good right now, showing strong signs of growth. Analysts are predicting a significant price increase in the coming weeks.
A Bullish Expansion Phase
Crypto analyst Ted Pillows believes Ethereum is in a bullish expansion phase, following periods of accumulation and manipulation. This means a big price jump is likely. He sees Ethereum hitting $4,500 in February and potentially reaching new all-time highs by March.
This analysis is based on a 3-hour candlestick chart from the last two weeks of January. The accumulation phase saw Ethereum trading between $3,185 and $3,520. A short, volatile manipulation phase followed before a breakout around $3,000 on January 30th, signaling the start of the expansion phase.
Breaking the $4,000 Barrier
Pillows also points to a breakout from a downward-sloping wedge pattern on the daily chart. This suggests Ethereum could hit $4,000 in just 8-10 days. He references similar breakouts in 2021 and 2024, both leading to a 40% price surge.
Looking at the bigger picture, Ethereum is forming higher lows, indicating a positive trend. Reclaiming the $4,000 mark is key; a decisive break above it could send Ethereum to between $9,000 and $10,000 in the next 3-4 months.
Trump’s Influence?
Pillows also suggests that Donald Trump’s involvement in Ethereum could be a factor. For example, World Liberty Financial, a crypto company linked to Trump and his family, recently bought $10 million worth of ETH.
The Bottom Line
With all these factors considered, the outlook for Ethereum is very bullish. While it’s currently trading around $3,261, a significant price increase is predicted in the near future.
