Ether is currently forming a bullish pattern on the price chart, which is commonly referred to as a 'cup and handle' formation. This pattern is observed by technical analysts as a signal for potential significant upward movement in asset prices.
According to a crypto analyst, this specific formation in Ether suggests a promising increase of up to 97% by the end of the first quarter of 2025. If this prediction holds, it would take the price of Ether to an estimated value of $7.2K.
The 'cup and handle' pattern is a long-established trend in technical analysis, used to predict asset price movement. This pattern's development in Ether has been taking shape over the last three years, and its completion could herald significant gains in the cryptocurrency market, particularly for Ether holders.
