Analysts say a “momentum move” could push Ethereum price into the $ 6,000 to $ 14,000 range


The crypto markets have been kicking off since early November, and a nearly innumerable number of tokens have rallied to highs since November 2nd, when Ether (ETH) broke above $ 4,500 and Bitcoin (BTC) broke above $ 64,000 -Dollar mark recaptured. Polkadot (DOT) also hit another all-time high as investors raised tokens that led to the upcoming Parachain auctions.

The rising price of ether comes after the recent Altair update of the Ethereum beacon chain as part of the protocol’s transition to Eth2 and a proof-of-stake mechanism that also pulled more than 8 million ethers out of circulation and in Eth2 were used contract.

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Data from Cointelegraph Markets Pro and TradingView show that since trading a low of $ 2,780 on September 29, the price of Ether has risen 62.54% in just over a month, to a new all-time high of November 2 Reaching $ 4,523.

ETH / USDT 1-day chart. Source: TradingView

Here’s a look at what traders and analysts are saying about the recent price action for Ether and where the token could head in the coming months.

ETH could hit a “pulse wave” to $ 6,000

A simple, straightforward price prediction for ether was offered by Cointelegraph employee Michaël van de Poppe, who released the following graph, estimating an “impulse move” from $ 6,000 to $ 6,400 that could occur sometime between November 2021 and January 2022.

ETH / USDT 1-day chart. Source: Twitter

Van de Poppe said:

“The goal of the Ethereum impulse wave could be $ 6,000.”

Analysts expect “another outbreak soon”

Options trader and pseudonymous Twitter user “John Wick” warned the winners, who indicated that another outbreak in Ether was imminent.

ETH / USD 1-day chart. Source: Twitter

Wick said

“Ethereum continues to make new ATHs. Those who have waited with us all these months absolutely deserve it … Technically, we have a different shade of squeeze. Watch out for another outbreak soon! “

Related: Ethereum price hit a new high of over $ 4,500 just as Bitcoin recaptured $ 64,000

2017 fractal points on $ 14,000 ETH

One final perspective from on-chain analyst Matthew Hyland compares the price movement of ether in 2017 with the current market structure of ETH.

If the proposed fractal pattern really shows up, Hyland indicated a potential rally to at least $ 14,000 in the next two to three months.

The total market cap of the cryptocurrency is now $ 2.728 trillion and the dominance rate of Ethereum is 19.4%.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Every step of investing and trading involves risk, so you should do your own research when making a decision.