ETH has declined by 53% since its 2024 year high (YH24) of $ 4108. A bottom price could lie around $ 1760.
However, TA shows ETH could rise to $ 5400, or more, based on a megaphone pattern / broadening wedge on the weekly chart. This price target could be reached in November 2025.
For ETH a difference of $ 2170 (the height) between the present price at the support line and the upper trendline around exists. Once the resistance of $ 4108 is broken the price target is calculated by adding 60% of $ 2170 (= $ 1302) to the price at the breakout point. So $ 4108 + $ 1302 ≈ $ 5400. The price target of $ 5400 could be a modest one given the fact that a break out is likely to happen at the end of September 2025 and the height of the pattern is larger then.
A strong correlation between ETH and BTC exists. This allows us to get an estimate when ETH may start to rise significantly when looking at BTC. Possibly this rise could start in early May.
Strong rises in the past for ETH and BTC occured in November 2024 and October 2023. On both instances BTC broke out of a broadening wedge pattern and crossed RSI = 70 on the daily chart.
Those broadening wedge patterns lasted 40 - 60 days. At present time no such pattern can be seen, so in case history repeats ETH may start to rise strongly at the start of May (40 days from now).
The bottom could be a price of around $ 1760, showing by possibly a double bottom (or Adam & Eve or 'cup n handle' etc.). Anyway exciting times await us.
However, TA shows ETH could rise to $ 5400, or more, based on a megaphone pattern / broadening wedge on the weekly chart. This price target could be reached in November 2025.
For ETH a difference of $ 2170 (the height) between the present price at the support line and the upper trendline around exists. Once the resistance of $ 4108 is broken the price target is calculated by adding 60% of $ 2170 (= $ 1302) to the price at the breakout point. So $ 4108 + $ 1302 ≈ $ 5400. The price target of $ 5400 could be a modest one given the fact that a break out is likely to happen at the end of September 2025 and the height of the pattern is larger then.
A strong correlation between ETH and BTC exists. This allows us to get an estimate when ETH may start to rise significantly when looking at BTC. Possibly this rise could start in early May.
Strong rises in the past for ETH and BTC occured in November 2024 and October 2023. On both instances BTC broke out of a broadening wedge pattern and crossed RSI = 70 on the daily chart.
Those broadening wedge patterns lasted 40 - 60 days. At present time no such pattern can be seen, so in case history repeats ETH may start to rise strongly at the start of May (40 days from now).
The bottom could be a price of around $ 1760, showing by possibly a double bottom (or Adam & Eve or 'cup n handle' etc.). Anyway exciting times await us.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.