Ether Decided to Keep Up
2024-12-08

ATH 

Ethereum (ETH) could surpass its all-time high (ATH) as early as 2024. After that, there could be a long and strong price rise comparable to the recent rise in Bitcoin's price. Ethereum's ATH was $4,868 in 2021.

 Technical Analysis 

Former Goldman Sachs top executive Raoul Pal, now Co-founder & CEO of Real Vision Group and founder of Global Macro Investor (GMI), shared his market view on Dec. 7. He believes that Ethereum is approaching key price levels. He also provided a screenshot from his Bloomberg terminal. In this image, we see a chart of ETH/USD using a logarithmic price scale.



I created the same chart but updated it since some time has passed. Here's what I got: you can see that the price has already broken above the upper boundary of the pattern.



Using the regular price scale, you can easily notice that the price is close to the previous local maximum. Once it is exceeded, a bullish signal will be triggered.



On a smaller 4-hour timeframe, we can identify a "Bullish Pennant" pattern. Its target is $4,320.




 Summary 

If the Ether price exceeds the local high of $4,094, there is a high probability that it will surpass its all-time high (ATH). This could happen as early as this month.