Key points:

• According to the popular trader, Ether is on the right track to reach $ 20,000, because the price channel remains significant.

• ETH can even break the channel for the first time.

• Against Bitcoin Ether Bulls still has a lot to do to adapt to the highest levels from 2021.

Ether (ETH) has a fresh target of USD 20,000 because Hyper-Bullish price forecasts join the maximum to a seven-month maximum.

Up-to-date Analysis X From the popular Merlijn salesman, he sees how ETH/USD repeats a infrequent traffic of the chart, which can bring another 375% profit.

The ETH price channel opens the road to $ 20,000 – trader

Ether is excited again because it is for the first time exceeds $ 4,000 from the end of 2024.

Reaching $ 4,249 at Bitstamp on Saturday, the largest Altcoin by Market Cap now has a fresh target price to match the current mood.

By sending a chart to X, Merlijn emphasized the price operating in the growing channel, whose ceiling hit only twice earlier.

The last touch of the upper trend line meant the latest highest in history the highest level $ 4,875, which he established in November 2021.

“7 years in creation. 2 Touches,” he commented.

“One breakthrough that changes everything. $ ETH goes the same channel that launched it from 100 to 4000 USD.”

The audio commentary gave the target price of ETH for the third touch of the upper trend line of up to USD 20,000. However, the price may exceed this border for the first time.

“The momentum is rolled up. RSI is reset. The ignition sequence is armed. The next stop? Straight to the top of the canal and further,” added Merlijn.

Ether needs 150% of profits in relation to bitcoins

Against Bitcoin (BTC) the ether still has a lot to recover.

Related: The Bitcoin energy record records that the “fair” price of BTC is as much as 167 thousand. USD

ETH/BTC, although by over 15% over the past week, still floats around its annual open level.

A month after USD records at the end of 2021, the ether introduced its current peak in BTC conditions at 0.0883. Achieving this level again requires 150% increases, data from CointeLraph Markets Pro i TradingView confirms.

The fresh ups of all time can be more achievable, and the popular Bitbull trader sees the potential for discovering ETH prices within two weeks.

“Today it broke above USD 4.1 thousand, led by huge short compression and institutional purchases”, some X Post Saturday reads.

“But what next? $ ETH now needs a strong weekly close to this level. If this happens, the new ATH will happen in 1-2 weeks.”

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.