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Ethereum is still showing signs of upward momentum if you know where to look. The leading altcoin is now in a bullish expansion phase, with analysts predicting thatits price could surge past key resistance levels in the coming weeks. According to crypto analyst Ted Pillows, Ethereum has entered a bullish expansion phase and is on the verge of a major rally that could push it beyond $4,000 in the short term and to new all-time highs by March. Bullish Expansion Puts Ethereum At $4,500 In February
According to Ted, Ethereum has transitioned into its expansion phase after completing two preceding phases of accumulation and manipulation. These phases were mapped out on the 3-hour candlestick timeframe and unfolded in the last two weeks of January. Related Reading Ethereum Price Eyes $4,000 With Rising Channel Pattern 1 week ago
The accumulation phasewas highlighted by Ethereum trading in a range between the upper and lower ends of $3,520 and $3,185, respectively. Following this accumulation phase, Ethereum entered a brief but volatile manipulation phasebetween January 27 and January 29 before eventually rebounding at the $3,000 mark. ETH’s path to $4,500 in February | Source: Ted Pillows on X
On January 30, Ethereum officially broke out of the manipulation phase, marking the beginning of the anticipated expansion phase. Ted believes this breakout is a key turning point, as it signals the start of a strong rally. With this expansion phase in mind, crypto analyst Ted predicted that the Ethereum price will rally to at least $4,500 in Februarybefore setting its sights on a new all-time high by March.
Notably, the analyst’s outlook is based on a combination of breakout from technical patternsand market sentiment, and he noted that Ethereum’s undervaluation is now coming to light. ETH’s Breakout Hinges On The $4,000 Price Mark
In a separate technical analysis, Ted highlighted that Ethereum is breaking out of a downward-sloping wedge pattern on the daily candlestick timeframe. Based on this pattern, he projected that ETH could reach $4,000 within eight to ten days after the breakout is fully confirmed. His forecast is grounded in Ethereum’s historical price movements, particularly referencing two similar breakouts in 2021 and 2024, both of which resulted in a 40% surge within the same time frame. Related Reading Ethereum Price Forms Falling Wedge Pattern On 1-Day Chart That Suggests 20% Rally Is Coming 2 days ago
In another analysis, Ted noted thatEthereum is forming higher lows in the longer timeframe. He emphasized that reclaiming the $4,000 mark is crucial right now, as doing so would pave the way for Ethereum to target new all-time highs. According to his projections, a decisive break above this key level will set the stage for Ethereum to reach between the $9,000 and $10,000 range over the next three to four months.
Aside from technical indicators, Pillows pointed to the potential impact of Donald Trump’s involvement in Ethereum. He suggested that Trump’s continued accumulationof ETH could further fuel the rally. One such accumulation is the latest acquisition of$10 million worth of ETH by World Liberty Financial, a crypto company affiliated with Donald Trump and some of his family members.
At the time of writing, Ethereum is trading at $3,261. ETH trading at $3,319 on the 1D chart | Source: ETHUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com