In less than two weeks, Ether may see new record highs

The following are key points.

• According to a well-known trader, ether will reach $20,000. This is because a price channel that has been in place for a long time remains relevant.

• ETH could even go beyond the channels for the very first time.

• Ether bulls will need to work hard to reach the 2021 highs against Bitcoin.

EtherETHThe price prediction is moving to new highs of seven months.

You can also read about New X analysis Merlijn, a popular trader, sees that ETH/USD is repeating an unusual chart movement which could result in another 375% increase.

ETH price channel opens road to $20,000 — Trader

Ether has traders excited as it is gaining momentum. crosses the $4,000 mark For the first time after late 2024.

The largest altcoin based on market capital, which reached $4,249 in Bitstamp on Saturday, now has an even higher price goal to reflect the mood.

Merlijn uploaded a chart on X and highlighted the rising price within a channel. The ceiling has been reached only twice previously.

Ether reached its latest high-ever of $4.875, back in November of 2021, when it was last tapped on the trendline.

“7 years in the making. 2 touches,” He said. 

“One breakout that changes everything. $ETH is riding the same channel that launched it from $100 to $4,000.”

According to audio commentary, the ETH target price for the third contact of the upper trendline was up to $20.000. The price could, however, continue to rise beyond this boundary, for the first ever time.

“Momentum is coiling. RSI is reset. The ignition sequence is armed. Next stop? Straight to the top of the channel and beyond,” Merlijn added.

Ether requires 150% growth against Bitcoin

Bitcoin (BTCEther is still a long way from being able to recover all of its lost ground.

Related: Bitcoin Energy Value metric says ‘fair’ BTC price is as much as $167K

ETH/BTC is up more than 15% in the last week but still at its open year-end level. 

Ether reached its highest level in BTC at 0.0883, a full month after it set its USD peak. To reach that level again, it would take a 150% increase in price. Cointelegraph Markets Pro The following are some examples of how to get started: TradingView confirms.

BitBull, a popular trading platform, believes ETH’s price could return to its previous high within a week.

“It broke above $4.1K today, led by massive short squeeze and institutional buying,” Part of a X post Read Saturday’s newspaper 

“But what’s next? $ETH needs a strong weekly close above this level now. If that happens, a new ATH will happen in 1-2 weeks.”

The article is not intended to provide investment advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.