ETH About to Explode-May Form A New ATH in Q1 2025
Although the second-largest coin Ethereum remains on a downtrend, the crypto community remains bullish on the coin. The price found strong support and triggered a rally, but the flip is yet to be verified. As a result, some market participants remain unsure of where prices will go next. But from a broader perspective, Ethereum price Seems even more explosive, offering a last chance to enter a long trade as it appears to be on the verge of a 100% move higher.
Many cryptocurrency veterans and analysts believe that ETH is significantly undervalued at current prices. In the long term, the coin is trading in a bullish mode and has been exhibiting bullish divergence. This bullish signal is noteworthy and should not be ignored. Therefore, the ETH price appears poised to rise 2x in the coming year as the five rising waves appear to have begun.
The weekly chart of Ethereum shows price within an ascending triangle, with longs likely. The level appears to have become rigid as the price has been unable to break above the $4,000 resistance. Therefore, a rise from these levels could trigger a massive explosion that takes levels above current peaks. However, the breakout is still slightly longer as buying volume has not yet accumulated.
Taking the technical picture into account, the RSI remains incremental while the Ichimoku Cloud’s baseline and conversion lines experienced a bullish crossover. This suggests that the price may once again face resistance at $4,000, but the pullback may be limited above $2,500 as bulls are likely to dominate the rally significantly. A possible subsequent rally could help Ethereum (ETH) price break above the $4,000 resistance and maintain levels it has eluded for years.
However, a move above these levels could trigger a strong rally that could lead to the second-largest coin reaching new highs in 2025.
