Outside Source
TL;DR
- Ethereum (ETH) is showing strong performance, currently trading around $2,000, with predictions of reaching its all-time high of over $4,800.
- Analyst FieryTrading forecasts ETH to reach nearly $5,000 by early 2025, citing a long-term bullish pattern.
- The same analyst predicts a significant rise for Cardano’s ADA, expecting it to exceed $35 by 2025 based on bullish market patterns.
‘Big Gains for ETH’ on the Horizon?
Ethereum’s native cryptocurrency – Ether (ETH) – is another asset that has shown strong resilience following the devastating market crash in the second part of 2022. It currently trades at around $2,000 (per CoinGecko’s data), a 70% price increase compared to the first day of the ongoing year.
Some analysts believe the current condition is just the beginning of an uptrend that could eventually take ETH to its all-time high of over $4,800. Such an individual is the one using the TradingView handle FieryTrading.
According to them, the coin has been in a bullish mode for the past year and a half, suggesting a further surge in the following months.
“As seen on the chart, ETH has been trading inside a bullish triangle pattern for over 1.5 years. In my eyes, a break out from this pattern might result in big gains for ETH since it will burst through an area full of short-trade stop-losses, which will be forced to buy back their positions,” the analyst argued.
According to their analysis, Ether’s jump toward almost $5,000 is expected at the beginning of 2025. “With a stop below the recent swing low and a target around the current ATH, we can construct a very decent long-term trade for this big token,” FieryTrading concluded.
The Analyst’s Take on ADA
Apart from predicting ETH’s possible price trajectory, FieryTrading has also given their two cents on Cardano’s native token – ADA.
They believe the asset is poised for an astonishing increase toward $35 in two years based on certain parallel channels that hint about the beginning of a bull run:
“Since the pattern has now been confirmed, we can take a look at the next bull-market top. Assuming that the bull-market top will be somewhere in 2025 and that ADA will continue to follow this pattern, we can make the assumption that ADA will top somewhere above $35.”
This article first appeared at CryptoPotato
