As Ethereum begins to show positive price action, the altcoin is seeing a wave of bullish predictions from several crypto experts on its near-term trajectory, suggesting a potential rally in the coming weeks.
A 63% rally for Ethereum could be on the horizon
In an optimistic way jobMarket expert and enthusiast, Javon Marks expressed confidence in a possible bullish breakout, pointing to strong near-term bullish momentum. The expert highlights several market indications and technical setups that show promising signals, with ETH overcoming recent resistance levels that could pave the way for a price surge.
According to the expert, Ethereum seems to be getting closer to another significant breakage point, and a bullish breakout is likely to occur due to a previous confirmation and breakout of a bullish pattern, which implies a similar price movement for the altcoin to past positive trends.
As a result, Javon Marks believes that this key breakout will trigger price growth up to the $4,080 level, which is more than 63% of its current value change. Furthermore, the analyst says the development could prove to be the start of a much bigger rise in the coming weeks.
Javon Marks’ anticipated breakout coincides with growing sentiment and optimism toward the altcoinwhich means a possible renewed momentum. Mark’s prediction also matches that of Ash Crypto, another market analyst and trader, who foreseen that ETH could reach a new all-time high in 2025.
After reviewing Ethereum’s recent price action, Ash Crypto noted that the altcoin has reached its major trendline support, capable of triggering a notable price rally. This is because the digital asset has seen a strong surge over the past three times it has retested the major trendline.
The first time ETH I retested the trendline in 2022, it jumped over 123% over a 3 month period, the second time caused an increase of around 107% in 7 months and the last one, which took place in 2023, triggered a rise of over 158% in about 6 months. So, if the digital asset replicates this movement, Ash Crypto is confident that it could see a 100% surge from its current value to a new all-time high in 2025.
Is ETH Preparing for a Rebound?
After a few days of downward movement, EPF Investors are starting to show their presence in the market, pushing the altcoin towards a possible rebound. Ethereum is currently trading at $2,460, demonstrating a brief upward movement of around 0.60% daily increase, slowly approaching the $2,500 price level.
Given the increased interest in ETH, the asset could continue to generate more gains as the bulls have formed strong support at the $2,450 mark. Data from CoinMarkCap reveals that ETH trading volume increased by over 20% over the past day.
Featured image from Unsplash, chart from Tradingview.com
