- Analysts shift sights from BTC to ETH as February approaches.
- ETH price chart shows multiple bullish signals including a falling wedge pattern.
- The price of Ethereum could soon see a string of new ATHs starting from $5,000.
Since Bitcoin’s price started to set its string of new ATHs in Q4 of 2024, analysts have been eagerly awaiting for Ethereum (ETH) to set new ATHs this bull cycle as well. So far in this ongoing bull cycle, the price of BTC shot up from the previous ATH in the $70,000 price range to its latest ATH at $109,114.88. Analysts expect ETH to follow soon.
ETH Price Chart Shows Multiple Bullish Signals
The expectation for ETH price to pump in Q1 of 2025 is even greater as historically, every Q1 following a Bitcoin Halving year has led to the peak of that cycle’s altseason. Now, the same period is unfolding and the peak of altseason is set to arrive. In the eyes of many seasoned analysts, ETH is expected to lead this charge by first setting a new ATH of its own.
Once ETH sets its latest ATH, it will go on to set a string of new ATHs much like Bitcoin did earlier this cycle and possibly hit its cycle top target of $14,000. At the moment, the ETH price chart is showing highly bullish signals. As we can see from the post above, this analyst expects a massive surge soon which will pump ETH price by over 45% taking it to $4,800 and higher.
ETH Price Prepares to Hit New ATH at $5,000
Additionally, more analysts identify the formation of a bullish falling wedge pattern. Historically, these falling wedge patterns have always resulted in a parabolic price pump for ETH. As we can see from the post above, this analyst says ETH will break out of its accumulation zone and claims a new ATH at $5,000 very soon ushering the start of the long-awaited altseason peak.
