How Ether begins to show positive price action again, the altcoin is seeing a wave of bullish predictions from many cryptocurrency experts about its near-term trajectory, suggesting potential growth in the coming weeks.
A 63% rally for Ethereum may be on the horizon
In an hopeful way postmarket expert and enthusiast Javon Marks expressed confidence in a possible upward breakout, pointing to a sturdy upward momentum in the near term. The expert points to several market indicators and technical setups that show promising signals, with ETH breaking recent resistance levels that could set the stage for a edged price rally.
According to the expert, Ethereum seems to be approaching another one significant breakout point, and a bullish breakout is likely to occur as a result of the prior confirmation and breakout of the bullish pattern, implying a similar price movement for the altcoin to previous positive trends.
As a result, Javon Marks believes that this key break will push prices higher to the $4,080 level, an escalate of over 63% from the current value movement. The analyst further claims that the development could prove to be the beginning of much greater improvement in the coming weeks.
Javon Marks’ predicted outburst coincides with growing sentiment and optimism towards altcoinsmeaning possible renewed momentum. Mark’s prediction also lines up with that of Ash Crypto, another market analyst and trader who made this forecast that ETH could reach a modern all-time high in 2025.
After examining Ethereum’s recent price action, Ash Crypto noted that the altcoin has reached major trendline support, which could usher in a noticeable price rally. This is because the digital asset has experienced a tough pump for the last 3 times and has retested the major trend line.
First time ETH tested the trend line again in 2022, it increased by over 123% in a 3-month period, the second time it resulted in an escalate of approximately 107% in 7 months, and the last one which occurred in 2023 resulted in an escalate of over 158 % in approximately 6 months. So, if the digital asset repeats this move, Ash Crypto is confident that it can witness a 100% upside from its current value to a modern all-time high in 2025.
Is ETH preparing to rebound?
After several days of declines, ETH investors are starting to show their presence in the market, pushing the altcoin towards a possible rebound. Ethereum is currently trading at $2,460, showing a compact upward move of around 0.60% daily gain, slowly approaching $2,500 price level.
Given the increased interest in ETH, this asset could continue to generate more gains as bulls have formed sturdy support at $2,450. Data from CoinMarkCap shows that ETH trading volume has increased by over 20% in the last day.
Featured image from Unsplash, chart from Tradingview.com
