The bullish trend surrounding Ethereum’s price has not diminished despite its disappointing performance over the past few years. Investors and analysts alike continue to skew heavily towards expectations of a higher altcoin price. Cryptocurrency analyst Leshka.eth recently shared his own predictions, predicting that the price of Ethereum will reach all-time highs in 2026.
Why might the price of Ethereum rise by 400%?
In the analysis, Leshka.eth points out the pattern that previously appeared on the Ethereum price and led to an explosive rise. This pattern, which the analyst marks on the ETH/BTC chart, first began in 2016, starting with a long consolidation of the Ethereum price at lower levels.
Once the Ethereum price broke out of the consolidation trend, it entered what ended up being an accretion trend. This accumulation caused the price of ping pong to rise and fall over time, before eventually hitting a low. This then led to the final part of the model, the assembly phase. By the time Ethereum price finished rising in the 2017 bull market, the price had risen by more than 1,500%. This caused its price to rise from $56 to peak at $1,151.
Now, this same pattern has been flagged by a cryptocurrency analyst, but on a much larger scale. While the recent consolidation trend lasted for several months, the trend continued for years, starting in 2018 and then ending in 2021. The next phase of accumulation then continued for years, from 2021 to 2026.
Given the longer time frame each part of the pattern took this time, the cryptocurrency analyst believes this will lead to a more explosive wave. In addition, there is also the fact that institutions are buying more ETH than in the past, with the supply on exchanges dwindling by the day.
Taking all of this into consideration, Leshka says this sets the stage for the next Ethereum price rally. The target upside at this time is 3-4X from here, which would put the Ethereum price at a low of $6,000 and a high above $8,000. Either way, this means a new all-time high for the cryptocurrency. As for when this could happen, the cryptocurrency analyst expects this to happen in the next six months, so the price of ETH could reach new highs this year if that happens.
Featured image from Dall.E, chart from TradingView.com
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