With this expansion phase in mind, crypto analyst Ted predicted that the Ethereum price will rally to at least $4,500 in February before setting its sights on a new all-time high by March. Notably, the analyst’s outlook is based on a combination of breakout from technical patterns and market sentiment, and he noted that Ethereum’s undervaluation is now coming to light. ETH’s Breakout Hinges On The $4,000 Price Mark In a separate technical analysis, Ted highlighted that Ethereum is breaking out of a downward-sloping wedge pattern on the daily candlestick timeframe.
These phases were mapped out on the 3-hour candlestick timeframe and unfolded in the last two weeks of January. Related Reading: Ethereum Price Eyes $4,000 With Rising Channel Pattern The accumulation phase was highlighted by Ethereum trading in a range between the upper and lower ends of $3,520 and $3,185, respectively.
According to crypto analyst Ted Pillows, Ethereum has entered a bullish expansion phase and is on the verge of a major rally that could push it beyond $4,000 in the short term and to new all-time highs by March.
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