Ethereum Price Could Reach $12,000 Based on Historical Bitcoin Patterns
Ethereum is experiencing significant bullish momentum, recently reclaiming the $4,000 mark for the first time since December 2024. Analysts predict a potential price increase of 182%, projecting it could reach $12,000 based on historical price patterns similar to Bitcoin's movements in 2020.
Key Points
- Ethereum's current price is around $4,270, up nearly 6% in 24 hours.
- The altcoin has risen over 25% in the past week.
- Technical analysis indicates Ethereum is following a converging wedge pattern, akin to Bitcoin's trajectory before its previous all-time high.
- A sustained monthly close above $4,000 may lead to significant price movement toward $12,000.
