This is a revised Ethereum ETHUSD chart with updated targets through the end of the Megabull which will end around October-November 2025:
The blue fractal on chart is an approximate path which I have created to estimate roughly the Ethereum price action in 2024-2025. It is based on my analysis of previous cycles.
Short-term Ethereum is exhibiting relative bullish strength (as indicated by the yellow arrow, similar to 2020) after reclaiming the resistance block (seen in red) as support. Similar to the previous two bottoming bull reversal patterns in 2016 and 2018-2020, Ethereum is completing both a: (1) double bottom at $1,100-$900 and (2) rounding bottom.
Once Ethereum rallies towards the top resistance of the rounding bottom at $4,800 and successfully backtests it as support, we can expect the Megabull to be confirmed before the end of 2024 or early January-February 2025.
Then by November 2025 expect Ethereum to rally and reach a Megabull ATH (All-Time-High) of either: $10,000-$12,000 or $17,000-19,000 give and take 1+- month margin error. This would represent a minimum gain of 1,000-1,300% increase from the all-time lows.
Don't forget to like and subscribe, as I'll be publishing more ideas with targets for altcoins in the incoming weeks. Carl M.
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Please take note as shown on the chart, I am expecting Ethereum to test the ATH at $4,800 around March 10 and potentially even blast through it to hit $5,550-5,000 briefly before pulling back under the ATH and spending the rest of the 2024 consolidating between that resistance block and the lower support at $3,400-3,000.
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Ethereum is up roughly 40% since this chart was published and following the blue gold fractal/projection as expected.
Short-term we should see the ATH at $4,800 and a bit past it at $5000-5550 by March 10 give and take few days margin error around that time. Make sure to take a little profit and treat yourself folks!