Ethereum $ETH $4,317.43 could rise to $12,000 if it repeats the price scenario of Bitcoin BTC $118,948.43 from 2020. In his post from August 9, he noted that ETH is currently in a similar technical position to where BTC was in August 2020 — inside a converging wedge pattern on the monthly chart.

Back then, Bitcoin, bouncing off the lower boundary of this pattern, consolidated near the upper boundary and subsequently made a breakout that led it to an all-time high of around $69,000. Now Ethereum has already closed the August candle above the upper boundary of the wedge, which, according to the analyst, could be a signal for the start of a powerful increase.

If the monthly close remains above $4,000, ETH, according to the Titan of Crypto, could potentially rise by 182% and reach approximately $12,000. This would mean an unprecedented all-time high for the second-largest cryptocurrency by market capitalization.