Experts Anticipate Ethereum Approaching All-Time High

Some traders anticipate that Ethereum’s price will soon test a new all-time high.

The previous ATH of $4878 was reached on November 10, 2021. Current prices are approximately 20% below this level, having increased by about 29% over the past 30 days (CoinGecko).

Ethereum is undergoing the same structural changes observed in Bitcoin in October, according to the trader known as Pentoshi. Capital inflow into ETH-ETF is becoming steady, and the price has shown the highest weekly close since the beginning of the year, the expert added.

Much like this thread with BTC, $ETH is having structural changes as well as the beginning of consistent and large ETF flows.

It just put in a HH, and had it’s highest weekly close of the year. There is a not much resistance from here to ath, which should act as a magnet. Above… https://t.co/vvWzu5cOa9 pic.twitter.com/FFZSVxCTsB

— ? Pentoshi (@Pentosh1) December 9, 2024

“There is not much resistance from here to ATH, which should act as a magnet. Above — clear skies,” he noted.

Bankless podcast host Ryan Adams is confident that a new high will be seen within a week.

eth ath next wk could happen

— RYAN SΞAN ADAMS — rsa.eth ? (@RyanSAdams) December 9, 2024

The crypto trader known as Poseidon noted that Ethereum is “about to break out of its four-year, 1,460-day range to the upside,” which will be unexpectedly significant.

$ETH is about to break out of its 4-year, 1,460-day range to the upside.

Much higher, far beyond your worst nightmares. pic.twitter.com/BjPoUEQ3RD

— Poseidon (@CryptoPoseidonn) December 8, 2024

“Much higher, far beyond your worst nightmares,” he concluded.

In early December, CoinDesk analyst Omkar Godbole highlighted the formation of a bullish pattern on Ethereum’s chart, which preceded Bitcoin’s November rally. On December 6, the price of the second-largest cryptocurrency by market capitalization exceeded $4000 for the first time since March.

Earlier, the analyst known as VentureFounder identified a “cup and handle” pattern in Ethereum, signaling a rise to $7200 within four months.