Ethereum Price Breakout: Charting The Uncertain Part Of ETH To $18,000
Cryptocurrency analyst BallaJi has provided insights into how an Ethereum price breakout could occur, even raising the possibility of ETH hitting $18,000. Ethereum currently has a bullish outlook, as of late Breaking above $4,000 for the first time since March this year.
How Ethereum Price Reached $18,000
in a Transaction View PostBallaJi predicts that Ethereum price may reach $18,000. The cryptocurrency analyst explained that based on logarithmic predictions, this measured movement of HVF could send Ethereum to its target. He warned that prices may not rebound to target in 2025.
However, he believes that if this bullish pattern is completed, Ethereum price could reach the $18,000 price target later this decade. Based on the circulating supply of 120.44 million ETH, reaching this price target would bring Ethereum’s market capitalization to approximately $2 trillion.
Meanwhile, BallaJi highlighted three Logarithmic target On the chart, $18,000 is the third and final target. The first and second targets are $3,818 and $6,236 respectively. In an update on the trading setup, the cryptocurrency analyst noted that Ethereum price has reached, exceeded, and retested the first target at $3,818.
With trading now active, BallaJi provides insights into how Ethereum price could continue this upward trend using linearly measured fluctuations. The accompanying chart he shared shows that the next linear target is $5,193; a bounce there would mark a new All Time High (ATH) ETH’s current ATH is $4,800.
Meanwhile, the next linear target is $7,299. BallaJi’s chart shows that Ethereum price should hit these price targets over the next year. A rally towards the $7,299 target could pave the way for ETH to reach $18,000, although analysts have warned that this may not happen in 2025.
The countdown to the new ATH has begun
In X post, crypto analyst Justin Bennett Indicates that the countdown to the new ATH for Ethereum price has begun. The analyst said that as ETH breaks through multiple levels this week, it could quickly rebound above $5,000. The analyst’s accompanying chart shows that a quick rally above $5,000 could see Ethereum hit $6,300.
cryptocurrency analyst crypto titan It is also predicted that Ethereum price will soon rise to $5,000. He said that the market structure of ETH is very similar to that of BTC a few weeks ago. He stated that the $5,000 target is just a minimum target as he believes Ethereum could go higher.
Ethereum price is reportedly around $3,980 at the time of writing, up nearly 3% in the past 24 hours data From CoinMarketCap.
