Excitement around Ether’s price is surging as significant price milestones converge with forecasts pointing to new record highs within the next fortnight. However, the ETH/BTC pair still shows room for growth to catch up with its previous peaks.
Key Highlights:
A consistent price channel suggests Ether is on a path to reach $20,000, according to a respected market analyst.
ETH might surpass this channel’s upper boundary for the first time ever, signaling unprecedented growth.
Against Bitcoin, Ether bulls still need significant gains to reclaim the all-time highs seen in 2021.
Ethereum (ETH) is setting its sights on a $20,000 milestone amidst strong bullish price predictions and a recent surge towards seven-month highs.
Market strategist Merlijn shared an analysis on social media, indicating that ETH/USD is mirroring a rare historical price pattern which could deliver an additional 375% increase in value.
Ethereum’s Price Channel Signals Path to $20,000
Investor interest in Ethereum is reignited as the cryptocurrency crossed above the $4,000 price level for the first time since late 2024.
With Ether touching $4,249 on the Bitstamp exchange recently, this dominant altcoin in market capitalization terms now has ambitious new price targets to match the optimistic sentiment.
Merlijn posted a price chart highlighting Ethereum’s movement within a rising price channel, a ceiling that has only been reached twice historically.
The channel’s upper limit last coincided with Ethereum’s all-time high of $4,875 back in November 2021.
He noted the significance: “7 years in the making, 2 touches.”
One breakout could change everything. Ethereum is still riding the same channel that took it from $100 to $4,000.
The bullish outlook includes a projection of $20,000 for the third time approaching the channel’s upper line. Analysts also speculate ETH could surpass this ceiling, marking a historic first.
Merlijn added: Momentum is gathering pace, the relative strength index has reset, and the launch sequence is in position — the next stop is the top of the channel and beyond.
Ether Needs to Gain 150% Against Bitcoin for New All-Time Highs
Although ETH has strengthened against Bitcoin (BTC), substantial gains remain necessary to match prior highs.
Related: Bitcoin Energy Value metric suggests an expected fair price for BTC could reach as high as $167K.
The ETH/BTC trading pair has risen more than 15% in the past week but still hovers near its opening level for the year.
In late 2021, Ethereum’s peak against Bitcoin was roughly 0.0883 BTC. Reclaiming this level now demands around a 150% price increase.
This data is confirmed by platforms like Coinstelegram Markets Pro and TradingView.
Popular trader BitBull forecasts that Ethereum’s discovery phase could return within a couple of weeks, presenting optimistic possibilities for price discovery.
He noted a recent breakthrough above $4,100, driven by a significant short squeeze and robust institutional buying.
The crucial next step is a strong weekly close above this level. If successful, Ethereum could reach a new all-time high within 1 to 2 weeks.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Trading and investing involve risks. Readers should conduct their own research before making financial decisions.
