An attempt of Ethereum (ETH) to test ATH is a no-brainer short term outcome. It is questionable whether sustained ATH will be printed in the short term. Most likely, a reversal on Ethereum’s chart is required for ATH to be sustainable.
SOURCE – Ethereum Predictions 2024 2025 2026
While it is easy to get caught up in a lot of hysteria about mind boggling crypto markets, with this 🚀 symbolizing the dream, the reality is different. We said it back in January, and we’ll say it again:
The Crypto Bull Market 2024 Is Here. It’s An Hidden Bull Market.
We got it right in January, we are confident we get it right again now – this is a low momentum bull market, highly bi-furcated, very confusing to 99% of crypto investors.
We are not sure we do agree with this viewpoint:
It’s time to officially usher in alt-season. You’ve all been patient, but the wait is over. Let’s take a look!$BTC & $ETH are doing more or less what they have always done; #Bitcoin chops under the previous cycle ATH & once it finally breaks through we see a year of #Ethereum… pic.twitter.com/sLCbCed0b1
— Max on May 27, 2024
Ethereum is eyeing ATH
Just to be very clear, the analyst team at InvestingHaven is clear about Ethereum’s long term aspiration: set new ATH. That’s long term.
Short term, a move to former ATH is an obvious target.
ETH currently trades just 20% below its ATH (price at the time of writing: $3908.
A quick touch of $4,800 is a no-brainer outcome of this current setup.
When will Ethereum decisively clear ATH in a sustainable breakout?
The really important question, however, is whether ETH can move to ATH and stay there.
Now, that’s eventually going to happen, but not necessarily in the short term, is what InvestingHaven’s analyst team thinks.
Let’s face it – markets don’t go up in one straight line. They need some drops, in doing so create bullish reversal patterns.
From a different angle, ETH will need to move well above its former ATH if it wants to stay there, also through the seasonally weak months of Aug and Sept.
InvestingHaven’s analyst team believes that it will be very bullish if ETH drops in the period Sept/Oct as long as it respects key support. Markets are doing just that, since centuries, moving from resistance to support in order to clear former resistance.
As said on our ETH predictions research page:
InvestingHaven’s Ethereum price forecast for 2024 is based on the bullish cup and handle chart formation. ETH should drop to its 68.2% retracement level $2,560 by Sept/Oct. A drop to $2,560 should offer an epic buy opportunity in 2024. ETH may move to ATH in July 2024 but will not structurally exceed ATH.
Now, IF ETH will be able to drop, late summer, respect key support, we will turn super bullish for 2025 (note – our targets are reasonable, when we say super bullish we certainly don’t think ETH to $100k):
InvestingHaven’s veteran forecaster has a very bullish ETH forecast 2025. If the $2,560 area holds strong on a 3-week closing basis, ETH will resolve higher in 2025. The current long term bullish chart pattern has bullish targets in the $5,000 to $10,000 area.
The chart visualizes what we believe will be the path for ETH to set sustainable new ATH: higher, lower, much higher.
While we like ETH a lot, there is one token that we like even more at this point in time. Readers can get instant access to our latest premium crypto report: A Breakout In This New Token, A Monster Breakout Coming In…?
