Crypto analyst BallaJi provided insight into how Ethereum’s price breakout could occur and even raised the possibility of ETH reaching $18,000. Ethereum currently boasts a bullish outlook, recently breaking above $4,000 for the first time since March this year.
How Ethereum Price Could Reach $18,000
In TradeView entryBallaJi predicted that Ethereum’s price could reach $18,000. The cryptocurrency analyst explained that based on logarithmic predictions, the measured movement of this HVF could send Ethereum to its destination. He provided a caveat, stating that price increases to target may not occur in 2025.
However, he believes that if this bullish pattern ends, Ethereum’s price could reach the $18,000 price target later this decade. An escalate in this price target would give Ethereum a market capitalization of around $2 trillion based on a circulating supply of 120.44 million ETH.
Meanwhile, BallaJi highlighted three logarithmic targets on the chart, with $18,000 being the third and final target. The first and second goals are $3,818 and $6,236 respectively. In a trade setup update, the cryptocurrency analyst noted that Ethereum price reached, broke and retested the first target at $3,818.
With trading already vigorous, BallaJi provided insight into how Ethereum’s price could continue this upward trend with moves measured linearly. The attached chart he shared showed the next line target to be $5,193; an escalate to this target would represent a fresh all-time high (ATH) for ETH, with the current ATH at $4,800.
Meanwhile, the next line goal is $7,299. BallaJi’s chart showed that Ethereum’s price should reach these target prices next year. A rise to a target of $7,299 could then pave the way for ETH to reach $18,000, although the analyst has already warned that this may not happen in 2025.
The countdown to the fresh ATH has begun
In post X, cryptocurrency analyst Justin Bennett stated that the countdown to a fresh ATH for Ethereum price has begun. According to the analyst, ETH could quickly rise above $5,000 after breaking several levels this week. The attached analyst chart showed that a quick rise above $5,000 could push Ethereum to $6,300.
Cryptocurrency analyst Cryptocurrency titan he also predicted that Ethereum’s price rise to $5,000 is imminent. He stated that the ETH market structure mirrors the BTC structure from a few weeks ago. He noted that the $5,000 target is just the minimum as he believes Ethereum is likely to rise.
At the time of writing, Ethereum is trading at around $3,980, up almost 3% in the last 24 hours, according to data from CoinMarketCap.
