VentureFounder: Ethereum is preparing to break through $ 7200

A cryptocurrency analyst under the pseudonym VentureFounder has identified a cup-and-handle pattern on the two-week chart of Ethereum ETH $3,884.24 Bridged Ether (StarkGate) -3.73% Market capitalization $0.35 billion VOL. 24 hours $1.91 billion . It signals a potential increase in the asset’s value over the next four months.

«This pattern has been forming for three years, and we are now approaching its completion. This can happen if ETH confirms support at $ 3,800,» the expert said.

According to the analyst’s forecast, Ethereum can reach the following targets:

• $ 5349 is the first key mark.
• $ 6457 is the second potential price.
• $ 7238 is the highest valuation that ETH can reach by the end of the first quarter of 2025.

VentureFounder also drew attention to the formation of a «golden cross» — the intersection of the 50-day and 200-day moving averages (DMA), which is expected next week.In November 2023, a similar indicator had already raised Ethereum from $ 2000 to $ 4000 in just three months.The expert noted that the current price of ETH is restrained by the strong position of the US dollar index (DXY), which is held in the range of 100−106.

However, VentureFounder believes that the DXY’s fall in this cycle will be larger than before, which could contribute to the «explosive» growth of Ethereum.

Another crypto trader, known as Titan of Crypto, expects Ethereum to reach $ 5800 in the short term due to the formation of the Ichimoku Golden Cross on the weekly timeframe.Current technical indicators and market conditions point to a possible significant rise in Ethereum in the coming months. This makes it an attractive asset for investors with a long-term perspective.