Ethereum Price Target Raised to $20K as Traders Eye New All-Time High Within Two Weeks

Ethereum’s latest rally has traders setting sky-high price targets as ETH pushes past $4,200, triggering speculation that a return to all-time highs — and potentially beyond — could be just around the corner.

Popular trader Merlijn now projects ETH could climb to $20,000, building on a seven-year price channel that has defined the altcoin’s biggest bull runs.

ETH Breaks $4K for First Time in 2025

On Saturday, ETH/USD surged to $4,249 on Bitstamp, marking its highest level since late 2024. This milestone has energized the Ethereum community and reignited bullish predictions.

Merlijn’s analysis, shared on X (formerly Twitter), shows ETH price action contained within a long-term rising channel that has only been touched twice before:

First touch: propelled ETH from ~$100 to ~$4,000 in its early bull cycle.

Second touch: set ETH’s current all-time high of $4,875 in November 2021.

“7 years in the making. 2 touches. One breakout that changes everything,” Merlijn wrote. “$ETH is riding the same channel that launched it from $100 to $4,000.”

The $20K Price Channel Theory

Merlijn’s projection sees ETH climbing to the channel’s upper boundary — estimated at around $20,000 — with the possibility of breaking beyond it for the first time in history.

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

This scenario would require a 375% gain from current levels, a move not seen since Ethereum’s early explosive runs.