The price of Ethereum (ETH) may in recent days test a new all-time high (ATH) reached on November 10, 2021 at $4878. Current quotes are developing about 20% below this mark, but over the past 30 days the cryptocurrency has added 29%, indicating a strong upward movement (according to CoinGecko).

According to popular trader Pentoshi, Ethereum contains the same structural changes as the markets before the recent rally. Supported by the effect of capital inflows into ETH-ETFs, the recent weekly close was the best since the beginning of the year.

“There is almost no resistance on the way to ATN – the market seems to pull to such a follower like a magnet. Further – clear sky,” the expert claims.

Podcaster Ryan Adams of Bankless is confident that ATH will be reached within weeks. Crypto trader Poseidon also noted a breakout from a four-year range, predicting growth that he says will “exceed the wildest expectations.”

Technical indicators include optimism: CoinDesk analyst Omkar Godbowl formed a bullish pattern on the Ethereum chart on December 6, which previously preceded the market rally. In parallel, the VentureFounder analyst saw a cup-and-handle pattern signaling a possible rise to $7200 in four months.

The Ethereum market is showing strong signs of growth at the moment, and the coming weeks could be historic for cryptocurrencies.

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