- Analysts expect ETH pump to usher altseason peak.
- Bitcoin retraces giving altcoins a chance to pump.
- Analyst sees bullish inverse head and shoulder pattern to push ETH price to $7,400.
Bitcoin price has traced back to the $102,000 price range following a continued sideways movement but at a higher level. It seems that since Trump’s inauguration, the crypto market has shifted to a bullish level. Presently, Bitcoin is moving in a higher sideways movement ranging from $101,000 to its latest ATH price of $109,114.88.
BTC Short Decline Drives Altseason Action
Despite the present decline, BTC price is expected to continue to rally and hit several new ATHs in the coming months ahead. In detail, analysts expect BTC price to pump up to hit new highs ranging from $113,000 to $140,000 in the coming days ahead. Likewise, similar sentiments extend towards altcoins as well.
In particular, altcoins are expected to pump as the peak of the altseason’s arrival seems imminent. This is because every Q1 following a Bitcoin Halving year has always led to the peak of that cycle’s altseason. With the same period arriving now, analysts believe altseason’s peak will begin momentarily and that ETH could lead this pump.
$7,400 ETH ATH Target Appears
So far, the pioneer altcoin Ethereum (ETH) has yet to set anew ATH this bull cycle. Many altcoins have already set new highs or have seen parabolic pumps but ETH is yet to experience this surge. Analysts believe once ETH sets a new ATH, altcoins as a whole will surge.
As we can see from the post above, this analyst expects a new ATH of $7,400 for ETH in 2025. In detail, ETH price seems to be moving within an upward channel, where an inverse head and shoulders pattern might be playing out in the coming weeks.
The post $7,400 ETH ATH Target Appears as Analyst Sees Bullish Inverse Head and Shoulder Pattern on Ethereum Price Chart appeared first on Cryptonewsland.
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