Ethereum Price Projected to Reach $4,500 in February
Ethereum is entering a bullish expansion phase, with predictions of price movement beyond key resistance levels. Key points include:
- Analyst Ted Pillows predicts Ethereum may reach over $4,000 shortly and could hit new all-time highs by March.
- The bullish phase follows an accumulation phase where Ethereum traded between $3,520 and $3,185.
- After a brief manipulation phase, Ethereum broke out on January 30, signaling the start of the expansion phase.
- Pillows forecasts a potential rally to at least $4,500 in February based on technical patterns and market sentiment.
- A breakout above $4,000 is crucial; historical trends show that similar breakouts led to 40% surges within eight to ten days.
- Potential influences on Ethereum's price include Donald Trump's continued accumulation of ETH, including a recent acquisition worth $10 million.
Currently, Ethereum is trading at $3,261.
