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🔶Crypto Analyst Predicts Ethereum Could Reach $7,000🔶
Ethereum has struggled to maintain its status as the "king of altcoins" during the current bull market, as other altcoins have outperformed it. Since falling below $4,000 last year, ETH has yet to show signs of returning to its previous highs.
🟠However, Ethereum appears to be rebounding steadily after experiencing significant negative pressure earlier this year. With this gradual momentum, analysts predict a substantial price increase in the coming months.
🟠How High Could Ethereum Go?
On January 17, crypto analyst Ali Martinez shared an optimistic Ethereum price forecast on X (formerly Twitter). Martinez suggested that Ethereum could potentially rise above $7,000 in the near future.
🟠This projection is based on the daily Ethereum price chart, which shows an inverse head-and-shoulders pattern—a well-known bullish technical indicator. This pattern features three price troughs, with the middle (the "head") being lower than the two outer "shoulders." When the price breaks above the "neckline," a resistance trendline connecting the peaks of the shoulders, it confirms a bullish breakout.
🟠Ethereum’s price appears to have completed the formation of the right shoulder in this pattern, approaching the neckline in the $4,000 to $4,100 range. According to Martinez, if Ethereum successfully closes above $4,100, it could spark a rally that pushes the price past $7,000—nearly a 100% increase from its current level.
🟠Martinez also highlighted on-chain data showing significant whale activity. Over the past week, whales have accumulated more than 330,000 ETH, valued at over $1 billion. Historically, such activity has been associated with major price surges, which could provide further momentum for Ethereum.
🟠Ethereum Price Overview
In the past 24 hours, Ethereum's price has increased by around 5%, bringing it to just under $3,500. Over the past week, ETH has gained approximately 7%, according to data from CoinGecko.
#Ethereum #ETH $ETH
Ethereum has struggled to maintain its status as the "king of altcoins" during the current bull market, as other altcoins have outperformed it. Since falling below $4,000 last year, ETH has yet to show signs of returning to its previous highs.
🟠However, Ethereum appears to be rebounding steadily after experiencing significant negative pressure earlier this year. With this gradual momentum, analysts predict a substantial price increase in the coming months.
🟠How High Could Ethereum Go?
On January 17, crypto analyst Ali Martinez shared an optimistic Ethereum price forecast on X (formerly Twitter). Martinez suggested that Ethereum could potentially rise above $7,000 in the near future.
🟠This projection is based on the daily Ethereum price chart, which shows an inverse head-and-shoulders pattern—a well-known bullish technical indicator. This pattern features three price troughs, with the middle (the "head") being lower than the two outer "shoulders." When the price breaks above the "neckline," a resistance trendline connecting the peaks of the shoulders, it confirms a bullish breakout.
🟠Ethereum’s price appears to have completed the formation of the right shoulder in this pattern, approaching the neckline in the $4,000 to $4,100 range. According to Martinez, if Ethereum successfully closes above $4,100, it could spark a rally that pushes the price past $7,000—nearly a 100% increase from its current level.
🟠Martinez also highlighted on-chain data showing significant whale activity. Over the past week, whales have accumulated more than 330,000 ETH, valued at over $1 billion. Historically, such activity has been associated with major price surges, which could provide further momentum for Ethereum.
🟠Ethereum Price Overview
In the past 24 hours, Ethereum's price has increased by around 5%, bringing it to just under $3,500. Over the past week, ETH has gained approximately 7%, according to data from CoinGecko.
#Ethereum #ETH $ETH
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
ETC
18.35
-3.72%