In an update on the trade setup, the crypto analyst noted that the Ethereum price has reached, broken, and retested the first target at $3,818. With the trade now active, BallaJi provided insights into how the Ethereum price could continue this upward trend using linear measured moves. The accompanying chart he shared showed that the next linear target is at $5,193; a rally to that target would mark a new all-time high (ATH) for ETH, with its current ATH at $4,800. Meanwhile, the next linear target is at $7,299.
He provided a caveat, stating that the price rally to the target might not happen in 2025. Related Reading: Analyst Says Bitcoin Price At $100,000 Is A Dangerous Zone’, Predicts Massive Crash However, he is confident that if this bullish pattern is completed, then the Ethereum price could reach this $18,000 price target later on this decade.
A rally to the $7,299 target could then pave the way for ETH to reach $18,000, although the analyst already warned that it might not happen in 2025. Countdown To New ATH Has Begun In an X post, crypto analyst Justin Bennett stated that the countdown to a new ATH for the Ethereum price has begun.
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