Ethereum is exhibiting upward momentum, entering a bullish expansion phase. Crypto analyst Ted Pillows predicts Ethereum could surge past $4,000 in coming weeks, possibly reaching new all-time highs by March. Ted notes Ethereum's expansion phase follows two prior phases of accumulation and manipulation, observed on a 3-hour candlestick timeframe.
As of January 30, Ethereum broke out of the manipulation phase, signaling the start of an expansion phase potentially pushing it to $4,500 in February. The analyst bases his outlook on technical breakouts and market sentiment, highlighting Ethereum's undervaluation coming to light.
Ted identifies a downward-sloping wedge pattern on daily candlesticks, projecting Ethereum could reach $4,000 within 8-10 days after a confirmed breakout. He references similar 40% surges in 2021 and 2024. He also notes Ethereum's higher lows in longer timeframes, suggesting a break above the $4,000 mark could target $9,000-$10,000 in months ahead.
Further speculation involves Donald Trump's potential impact on Ethereum, owing to his associated crypto company's $10 million ETH acquisition. At the time of writing, Ethereum trades at $3,261.
