Crypto analyst Balaji has provided insights on how the Ethereum price could breakout and even raised the possibility of ETH reaching $18,000. Ethereum currently enjoys a bullish outlook, recently Break above $4,000 For the first time since March this year
How can Ethereum price reach $18,000?
In A TradingView postBalaji predicted that the price of Ethereum could reach $18,000. The crypto analyst explained that based on logarithmic projections, the measured movement of this HVF could send Ethereum to the target. He provided a caveat, stating that prices may not rise until the target in 2025.
However, he is confident that if this bullish pattern holds, the Ethereum price could reach this $18,000 price target later this decade. A rally to this price target would give Ethereum a market cap of around $2 trillion based on its circulating supply of 120.44 million ETH.
Meanwhile, Balla ji highlighted the three Logarithmic goals On the chart, there is the third and final goal with $18,000. The first and second targets are $3,818 and $6,236 respectively. In an update on the trade setup, the crypto analyst noted that the price of Ethereum has reached, broken and retested the first target at $3,818.
With trading now active, Balaji provided insight into how the Ethereum price could continue this upward trend using linear scaled moves. The chart he shared shows that the next linear target is $5,193; A rally to that goal would mark a new milestone All-Time High (ATH) For ETH, with its current ATH of $4,800.
Meanwhile, the next linear target is $7,299. Balaji’s chart showed that Ethereum’s price should meet these price targets by next year. A rally to the $7,299 target could then pave the way for ETH to reach $18,000, although analysts have already warned that this may not happen in 2025.
The countdown to the new ATH has begun
In an X post, Crypto Analyst Justin Bennett Said countdown to a new ATH for Ethereum price has begun. According to the analyst, ETH could quickly reach above $5,000 as it breaks several levels this week. The accompanying chart from the analyst showed that a quick rally above $5,000 could push Ethereum to $6,300.
Crypto Analyst The titan of crypto has also predicted that an Ethereum price rally to $5,000 is imminent. He said that ETH’s market structure mirrored that of BTC a few weeks ago. He commented that the $5,000 target is only a minimum as he believes Ethereum will likely go higher.
At the time of writing, the price of Ethereum is trading at around $3,980, up almost 3% in the last 24 hours, according to data From CoinMarketCap.
