Markets
Ethereum (ETH) targets the ATH. Will it be able to break out to establish a new ATH?
An attempt by Ethereum (ETH) to test ATH is an obvious short-term outcome. It is questionable whether sustained ATH will be printed in the near term. Most likely, a reversal on Ethereum’s chart is required for ATH to be sustainable.
SOURCE – Ethereum Forecast 2024 2025 2026
While it’s easy to get caught up in a lot of hysteria about the staggering cryptocurrency markets, with this 🚀 symbolizing the dream, the reality is different. We said it already in January and we repeat it:
The 2024 cryptocurrency bull market is here. It’s a hidden bull market.
We got it right in January, we’re confident we get it right now: This is a low-momentum, highly bifurcated bull market that’s very confusing for 99% of cryptocurrency investors.
We’re not sure we agree with this view:
See more
It’s time to officially inaugurate the alt-season. You have all been patient, but the wait is over. Let’s take a look!$BTC & $ETH they are doing more or less what they have always done; #Bitcoin collapses below previous cycle ATH and once it finally breaks through we will see a year of #Ethereum… pic.twitter.com/sLCbCed0b1
— Maximum on May 27, 2024
Ethereum targets ATH
Just to be very clear, the InvestingHaven analyst team is clear about Ethereum’s long-term aspiration: to establish a new ATH. It’s a long-term thing.
In the short term, the move to the former ATH is an obvious goal.
ETH currently trades just 20% below its ATH (price at the time of writing: $3908.
A quick touch of $4,800 is an obvious result of this current setup.
When will Ethereum finally surpass ATH in a sustainable breakout?
The really important question, however, is whether ETH can transition to ATH and stay there.
Now, this will happen sooner or later, but not necessarily in the short term, is what the InvestingHaven analyst team thinks.
Let’s face it: markets don’t go up in a straight line. They need some declines, by doing so they create bullish reversal patterns.
From a different perspective, ETH will have to move well above its previous ATH if it wants to stay there, even during the seasonally weak months of August and September.
The InvestingHaven analyst team believes that a decline in ETH in the September/October period will be very bullish, as long as it respects key support. Markets have been doing just this for centuries, moving from resistance to support to eliminate previous resistance.
As mentioned on our ETH predictions research page:
InvestingHaven’s Ethereum price prediction for 2024 is based on the bullish Cup and Handle chart formation. By September/October ETH is expected to fall to the 68.2% retracement level at $2,560. A drop to $2,560 should provide an epic buying opportunity in 2024. ETH may move to ATH in July 2024 but will not structurally outperform ATH.
Now, IF ETH can go lower, in late summer, respecting key support, we will become super bullish for 2025 (note: our targets are reasonable, when we say super bullish we certainly don’t mean ETH at $100,000):
InvestingHaven’s veteran forecaster has a very bullish ETH prediction for 2025. If the $2,560 area holds strong on a 3-week closing base, ETH will resolve higher in 2025. The current bullish chart pattern at long-term has bullish targets in the $5,000 to $10,000 area.
The graph visualizes what we believe the path will be ET set a new sustainable goal: higher, lower, much higher.
While we really like ETH, there is one token we like even more right now. Readers can get immediate access to our latest premium crypto report: An explosion in this new token, a monstrous explosion coming…?
Receive our FREE cryptocurrency newsletter alerts
Download 50 tips for investing in cryptocurrencies
[10-YEAR ANNIVERSARY] InvestingHaven.com celebrates its 10th anniversary. Join our 3 premium services: Gold & Silver Report + Stock Investments + Cryptocurrency Investments, join our unique passive income service. Our VIP package >>
Fuente