Ether has 3-year cup and handle ‘in the making,’ analyst eyes $7.2K
Ether is forming a pattern on the price chart signaling a 97% upward move by the end of the first quarter of 2025, according to a crypto analyst.
Ether is forming a convincing pattern on the price chart, signaling a potential surge of up to 97% within the next four months, according to a crypto analyst.
“ETH has a 3-year cup and handle in the making; it is about to be completed now if Ethereum confirms $3.8k as support,” pseudonymous crypto analyst venturefounder said in a Nov. 30 X post.
The end of Q1 2025 is the deadline
Venturefounder projected Ether’s first price target at $5,349, followed by $6,457, and a third target of $7,238 to be reached by the end of Q1 2025 at the latest. This represents approximately a 97% increase from Ether’s current price of $3,669, as per CoinMarketCap data at the time of publication.
Despite Ether’s 47% price spike since Nov. 1, venturefounder claimed that its price has not “exploded” yet due to the United States dollar Index (DXY) maintaining strength, which previously has broken down to lower levels before significant price swings in the crypto market.
“DXY has been trending between 100-106 this cycle, but it is about to have a bigger breakdown than past cycles; ETH will explode,” they said.
The DXY stands at 105.78 at the time of publication, according to TradingView data.
Pseudonymous crypto trader Titan of Crypto forecasted that Ether is set for “$5,800” as the Ichimoku Golden Cross has “finally happened on the weekly timeframe.”
Crypto trader Wolf added, “I’m calling ETH to hit 9k-10k by May 2025.”
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Spot Ether ETFs reach new daily inflow record
Pseudonymous crypto trader Doctor Profit suggested to his 333,300 X followers that Ether may be presenting a buying opportunity. The trader said in a Dec. 1 X post that “Everything below 4k is a gift for the mid-term.”
“It’s still a good time to enter,” Doctor Profit added.
Meanwhile, on Nov. 30 Cointelegraph reported that spot Ether exchange-traded funds (ETFs) in the United States reached a new record for daily inflows on Nov. 29.
According to Farside data, $332.9 million flowed into the nine-spot Ether ETFs on Nov. 29, surpassing the previous daily inflow record — $295.5 million reached on Nov. 11— by $37.4 million.
