Ethereum is currently experiencing an upward trend that has caught the attention of analysts who are predicting significant price surges in the near future. According to crypto analyst Ted Pillows, Ethereum is entering a bullish expansion phase that could see its price surpass key resistance levels in the coming weeks. Pillows predicts that Ethereum could reach $4,000 in the short term and achieve new all-time highs by March.
Bullish Expansion Puts Ethereum At $4,500 In February
Ted Pillows has identified Ethereum’s transition into an expansion phase after completing accumulation and manipulation phases in late January. During the accumulation phase, Ethereum traded within a range of $3,520 to $3,185 before moving into a volatile manipulation phase between January 27 and January 29. The cryptocurrency eventually rebounded at the $3,000 mark.
On January 30, Ethereum broke out of the manipulation phase, signaling the beginning of the anticipated expansion phase. Ted Pillows believes that this breakout is a pivotal moment that will lead to a strong rally. Based on this expansion phase, Pillows predicts that Ethereum’s price could rally to at least $4,500 in February before aiming for new all-time highs in March.
ETH’s Breakout Hinges On The $4,000 Price Mark
In a separate technical analysis, Ted Pillows highlighted Ethereum’s breakout from a downward-sloping wedge pattern on the daily candlestick timeframe. He projects that Ethereum could reach $4,000 within eight to ten days after the breakout is confirmed. Pillows’ forecast is based on historical price movements and previous breakouts in 2021 and 2024 that resulted in a 40% surge within a similar timeframe.
Pillows also noted that Ethereum is forming higher lows in the longer timeframe and emphasized the importance of reclaiming the $4,000 mark. A decisive break above this level could pave the way for Ethereum to target new all-time highs, with projections indicating a potential price range between $9,000 and $10,000 over the next three to four months.
Additionally, Pillows mentioned the potential impact of Donald Trump’s involvement in Ethereum, suggesting that Trump’s accumulation of ETH could further fuel the rally. Recent acquisitions of $10 million worth of ETH by World Liberty Financial, a crypto company linked to Trump and his family, could contribute to Ethereum’s upward momentum.
As of the latest update, Ethereum is trading at $3,261, showing promising signs for future growth.
In conclusion, Ethereum’s bullish expansion phase and potential price surges indicate a positive outlook for the cryptocurrency in the near future. Analysts like Ted Pillows are optimistic about Ethereum’s performance and predict significant gains in the coming months. Stay tuned for more updates on Ethereum’s price movements and market trends.