With the growing bullish momentum in the cryptocurrency market, large-cap altcoins have been some of the main beneficiaries of the current positive trend. The price of $ETH has continued to impress, with the second largest cryptocurrency reaffirming its position in the market in recent weeks. The price of $ETH showed significant bullish momentum entering the weekend, recovering the $4,000 mark for the first time since December 2024. Interestingly, the 'king of altcoins' seems to be just at the beginning of a prolonged upward trajectory.
In a post on August 9th on the social media platform X, the pseudonymous crypto analyst Titan of Crypto shared an exciting projection for $ETH that could see its price rise to $12,000. This positive projection is based on the price fractals of the world's largest cryptocurrency by market capitalization, Bitcoin, in 2020. In technical analysis, fractals refer to recurring patterns on a price chart. These price patterns often provide insights into historical price movements and can be used to analyze the future trajectory of a cryptocurrency.
Titan of Crypto revealed that the price of Ethereum is currently at the same point where the price of BTC was in August 2020. At that time, the leading cryptocurrency was trading within a converging wedge pattern before breaking to its then record price of around $69,000. As shown in the chart, the price of Ethereum is currently trading within a similar converging wedge pattern on the monthly chart. Both BTC and ETH prices recently jumped from the lower edge of the chart pattern in early 2020 and 2025, respectively. Almost identically, the two largest cryptocurrencies nearly broke above the trend line with their respective July candles of 2020 and 2025.
While the price of BTC hovered around the upper trend line in the following two months, the price of Ethereum clearly broke above the wedge pattern with its August candle. If history serves as a guide, and a sustained monthly close above $4,000 occurs, the price of Ethereum could be on its way to an unprecedented record around the $12,000 region. This movement represents a potential increase of 182% for ETH from its current price point.
At the time of writing, the Ethereum token is valued at around $4,270, reflecting an increase of nearly 6% in the last 24 hours. According to data from CoinGecko, the altcoin has risen over 25% in the last seven days.
