Ethereum’s chart signals to traders that a new high could hit next week

Ether’s price is forming “structural changes,” indicating that a big move may be on the horizon. Some crypto commentators say it may retest its all-time high within the next seven days.

Bankless podcast host Ryan Adams said in a Dec. 9 X post that a new Ether all-time high “could happen” within the next week. Ether’s current all-time high is $4,878, reached in November 2021.

Ether traders to closely watch seven-day timeline

If ETH were to hit a new high in the next seven days, it would need a 24% weekly gain from its current price of $3,946, according to CoinMarketCap.

Pseudonymous crypto trader Pentoshi said in a Dec. 9 X post to his 830,900 followers that Ether “is having structural changes as well as the beginning of consistent and large ETF flows.”

Pentoshi highlighted that Ether had its “highest weekly close of the year” and echoed Adams’ sentiment, suggesting a retest of its all-time high could happen sooner than many traders anticipate.

“There is not much resistance from here to ATH, which should act as a magnet. Above that is clear skies,” Pentoshi said.

Pseudonymous crypto trader Poseidon said there may be significant gains that Ether market participants aren’t expecting.

Ether recently touched $4K for the first time in 9 months

“ETH is about to break out of its 4-year, 1,460-day range to the upside. Much higher, far beyond your worst nightmares,” Poseidon said in a Dec. 9 X post.

It comes only days after Ether broke past the $4,000 price level for the first time since March 2024.

Analysts have recently predicted that Ether’s underperformance against Bitcoin may be coming to an end.

“I think the ETH/BTC collapse is over (or nearly over), and it should go higher over the next 6-12 months,” Into The Cryptoverse founder Benjamin Cowen said on Dec. 4.

Source: https://cointelegraph.com/news/ether-price-chart-signal-crypto-traders-all-time-highs-next-week