Ethereum’s $20,000 target: 4,517% growth potential

• Ethereum showed price growth of 4,517% in its final cycle, reaching price points of $430,015.
• The $2,000 resistance intersection could touch Ethereum $20,000.
• This could suggest that new all-time highs can approach once Ethereum retains its main support level.

The history of Ethereum’s prices shows that this cryptocurrency has experienced an astounding cycle of growth. The 2017-2021 cycle witnessed a stunning 19,201.03% increase as Ethereum rose from $1,351.69 to $135,169. These cycles show that each time Ethereum enters the bullish phase, it can increase the above-average return of investors. Returns drop every time, but Ethereum pulls that weight every time.

Current market scenarios and price actions

Ethereum is currently dressed in bearish integrated phase trading within the range of the ascending triangle pattern. Prices are currently testing large resistance in the $2,000-$2,100 zone. This level has proven to be a tough barrier in the past few months as cryptocurrencies face several attempts to outweigh this resistance. However, when it comes to some historic price actions, the odds of breakouts appear to be good, especially when Ethereum maintains its current trend.

The Ethereum Dollar Price Action suggests that it is on the crisis of breakout from the current pattern. If Ethereum breaks resistance between $2,000 and $2,100 and maintains above these levels, its next important goal could be $20,000. This is suitable for the trend of cycle-decreasing returns, but even so, this would be a great appreciation of the value of Ethereum.

Long-term forecast: What’s ahead for Ethereum?

Ethereum’s long-term forecast remains bright. The chart reveals that Ethereum prices tend to show a repeat of consolidation. As long as Ethereum holds the upward trend line and clears important resistance, it is rarely in the way of cryptocurrency reaching the $20,000 level. Over the next few weeks, market participants will eagerly monitor Ethereum’s price action to see if a breakout applies.

Over the next few months, Ethereum price action is extremely important to its overall outlook. Analysts have opined that Ethereum should be able to maintain some bullish momentum from here, and according to historical examples, new history-highest formations can be seen. As the market moves further, Ethereum’s further profit opportunities are primarily attracting attention.