Deep Tide TechFlow News, on August 9, according to Cointelegraph, trading analyst Merlijn pointed out that Ethereum is currently operating in a rising channel that has lasted for 7 years, which previously pushed ETH from $100 to $4,000. If the previous trend continues, the price of ETH is expected to reach $20,000.

Currently, the ETH to BTC ratio still needs to rise 150% to reach the historical high of 0.0883 set in 2021. Some traders expect that if ETH can stabilize above $4,100 this week, it may hit a new high within 1-2 weeks.