Analyst Says Ethereum Is ‘Closer to $20K Than Most Anticipate’ Based on This Technical Pattern ⋆ ZyCrypto
The post Analyst Says Ethereum Is ‘Closer to $20K Than Most Anticipate’ Based on This Technical Pattern ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement     Ethereum (ETH) showed renewed strength this week, climbing strongly alongside Bitcoin since Monday and edging out of a multi-day stretch of low volatility some jokingly called the newest “stablecoin.” But while the recent price movement may seem modest, some analysts believe the second-largest cryptocurrency by market capitalization could be gearing up for a much larger breakout. According to market analyst Gert van Lagen, Ethereum may be significantly undervalued at current levels. In a post on Monday, van Lagen pointed to a clear inverse head and shoulders formation developing on Ethereum’s two-week chart. This bullish technical pattern often signals a major trend reversal. He projects a potential upside target of $19,500, a price level that would mark a new all-time high for ETH and nearly five times its current value. “ETH [2W] may be closer to $20k than most anticipate,” van Lagen tweeted, emphasizing that a 1.5-year descending broadening wedge, a separate bullish pattern, is also unfolding, reinforcing the potential for a powerful upward breakout. Advertisement   Elsewhere, analyst Master Ananda added weight to the bullish case, noting that Ethereum recently broke above the 200-day moving average, a long-term indicator that traders often view as a signal of sustained bullish momentum. According to Ananda, this is the first time ETH has moved above this line from a low point since November 2024. “This is massive,” he stated on Tradingview, describing it as one of the most reliable bullish indicators in technical analysis. “Ethereum is now ready to grow for six months straight, minimum.” Ananda forecasted potential price levels of $5,790 and $8,513 in the coming bullish wave, but cautioned that the real upside could extend far beyond those figures. In the background, activity on the Ethereum network is also soaring, which has historically been a precursor for…
The post Analyst Says Ethereum Is ‘Closer to $20K Than Most Anticipate’ Based on This Technical Pattern ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement Ethereum (ETH) showed renewed strength this week, climbing strongly alongside Bitcoin since Monday and edging out of a multi-day stretch of low volatility some jokingly called the newest “stablecoin.” But while the recent price movement may seem modest, some analysts believe the second-largest cryptocurrency by market capitalization could be gearing up for a much larger breakout. According to market analyst Gert van Lagen, Ethereum may be significantly undervalued at current levels. In a post on Monday, van Lagen pointed to a clear inverse head and shoulders formation developing on Ethereum’s two-week chart. This bullish technical pattern often signals a major trend reversal. He projects a potential upside target of $19,500, a price level that would mark a new all-time high for ETH and nearly five times its current value. “ETH [2W] may be closer to $20k than most anticipate,” van Lagen tweeted, emphasizing that a 1.5-year descending broadening wedge, a separate bullish pattern, is also unfolding, reinforcing the potential for a powerful upward breakout. Advertisement Elsewhere, analyst Master Ananda added weight to the bullish case, noting that Ethereum recently broke above the 200-day moving average, a long-term indicator that traders often view as a signal of sustained bullish momentum. According to Ananda, this is the first time ETH has moved above this line from a low point since November 2024. “This is massive,” he stated on Tradingview, describing it as one of the most reliable bullish indicators in technical analysis. “Ethereum is now ready to grow for six months straight, minimum.” Ananda forecasted potential price levels of $5,790 and $8,513 in the coming bullish wave, but cautioned that the real upside could extend far beyond those figures. In the background, activity on the Ethereum network is also soaring, which has historically been a precursor for…
What's Your Reaction?
