The target price of ETH is USD 20K as it prepares to reach its ATH in "1-2 weeks"

The enthusiasm for the price of Ether reaches its peak as major targets combine with the countdown to new all-time highs, but the ETH/BTC pair still has a long way to go. Key points:

Ether is on track to reach USD 20,000, as the long-term price channel remains relevant, according to a popular trader.

ETH could even break through the channel for the first time in history.

Against Bitcoin, Ether bulls still have a lot of work ahead to match the all-time highs of 2021.

Ether

ETH

3627 €

has a new target of USD 20,000, as hyper-bullish predictions add to the momentum towards seven-month highs.

The new X analysis from popular trader Merlijn forecasts that the ETH/USD pair will repeat an unusual chart movement, which could generate another gain of 375%.

The ETH price channel opens the way to USD 20,000, according to a trader.

Ether excites traders again by surpassing the USD 4,000 barrier for the first time since late 2024.

After reaching USD 4,249 on Bitstamp on Saturday, the largest altcoin by market capitalization now has a new extremely high price target that fits the current mood.

By posting a chart on X, Merlijn highlighted that the price is moving within an ascending channel, whose ceiling has only been reached twice before.

The last touch of the upper trendline marked the last all-time high of Ether, USD 4,875, which was established in November 2021.

"7 years in preparation. 2 touches," he commented.

"A breakout that changes everything. $ ETH is riding the same channel that launched it from USD 100 to USD 4,000".#ETHETFS