Ethereum (ETH) Price Could Hit $4,000 Soon, Analysts Predict

Crypto analysts are optimistic about Ethereum‘s price, predicting it could reach $4,000 soon.

Analyst BasicTrading has identified a rising channel pattern in Ethereum’s price movement, suggesting a possible breakout.

Ethereum has struggled in recent market cycles, but this new pattern brings hope for a rally.

Bullish Predictions for Ethereum

Rising Channel Pattern: BasicTrading noted that Ethereum is retesting its previous all-time high resistance.

The current price action indicates a breakout could happen soon, potentially pushing Ethereum to the $4,000 mark.

Potential for Higher Gains: If Ethereum breaks above its all-time high of $4,800, it could rise even further.

Some analysts predict prices between $20,000 and $25,000 if historical trends repeat.

Analyst Support

Other analysts support this bullish outlook:

CrediBULL Crypto believes Ethereum will reach at least $10,000 in this market cycle.

Mikybull Crypto also predicts a rally that could see prices hit $12,000.

Current Market Status

As of now, Ethereum is trading around $3,400, showing an increase of over 5% in the last 24 hours.

Analysts suggest that a decisive breakout above $4,000 could lead to significant gains for investors.