Ethereum Price Nears All-Time High, Experts Predict $18,000 Target
The Ethereum price has crossed $4,500, trading 9% below its all-time high of $4,946. Market experts predict bullish trends for Ethereum.
Bullish Reversal Observed
- Gert van Lagen suggests Ethereum is following an expanding diagonal pattern on the biweekly chart, indicating a potential reversal to an uptrend.
- Ethereum recently consolidated between $4,200 and $4,600, with a recovery from $3,800.
- This pattern points to a shift from bearish to bullish momentum, potentially leading to an upward breakout.
- Wave v nearing completion, could lead to Ethereum reaching between $9,000 and $18,000.
Future Projections for ETH
- Mr. Wall Street estimates Ethereum's price target for this cycle between $7,000 and $8,000.
- Surpassing the $5,000 mark is pivotal as it acts as significant resistance.
- Michael van de Poppe anticipates Bitcoin will rise before correcting, after which Ethereum might gain momentum.
Overall, experts foresee bullish trends for Ethereum if key resistance levels are surpassed and market conditions remain favorable.