Ethereum price looks ready for lift-off, targeting new all-time high of $1,700

  • Ethereum price seems to be contained inside an ascending triangle pattern.
  • A clear breakout could impulse the digital asset to new all-time highs above $1,440. 

Ethereum outperformed Bitcoin this past weekend and remains trading above $1,200. The digital asset seems to be contained inside an ascending triangle pattern on the 4-hour chart and could see a breakout in the near term. 

Ethereum price faces only one critical resistance level before new all-time high

On the 4-hour chart, Ethereum has established an ascending triangle pattern that is on the verge of bursting. There is a significant resistance level formed at $1,290, which is the top trendline of the pattern.

eth price

ETH/USD 4-hour chart

A breakout above this crucial resistance point could quickly push Ethereum price towards a high of $1,700. Additionally, the SuperTrend index also suggests that ETH faces a significant resistance level at $1,290. 

eth price

ETH/USD 4-hour chart 

It’s important to note that despite Ethereum price rising higher, large investors are not taking profits just yet. The number of whales holding at least 1,000,000 ETH coins has increased since January 6. Similarly, the number of large investors holding between 100,000 and 1,000,000 coins has also been in an uptrend since December 30, 2020. 

eth price

ETH Holders Distribution

The IOMAP chart shows only one significant resistance area between $1,215 and $1,239, which gives credence to the bullish outlook as it indicates the $1,290 level, shouldn’t be hard to break. 

eth price


The IOMAP model also indicates that Ethereum is currently sitting on top of a robust support area between $1,142 and $1,178. Failing to hold this range of support would be a significantly bearish indicator and would invalidate the bullish outlook. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Crypto bulls unfazed by flash crash

Bitcoin price action initially shakes off strong selling pressure, finds buyers at support, then resumes some selling pressure. Ethereum price action mixed post-all-time high rejection. XRP price awaits its own bullish breakout and an opportunity to outperform its peers.

More Cryptocurrencies News

MATIC price ready for new all-time highs as $188 million flow into Polygon

The total number of transactions on Polygon network dropped nearly 15% due to a rise in transaction fees over the past week. This hasn’t negatively impacted the network as the number of unique daily active users remained stable. 

More MATIC News

AVAX price offers a bullish opportunity before Avalanche hits new all-time highs

Avalanche (AVAX) price has seen a bullish outbreak on Thursday after it broke out above – and then retested – the red descending trend line at $61.62. With even more buyers and bulls coming in, expect a run towards new all-time highs at $81.

More AVAX News

XLM price building base for bullish breakout

Stellar bulls are in the last phase of completing a bullish triangle. As XLM price is getting squeezed against the base ($0.40), expect a quick breakout of 12%. After taking a breather, expect another 10% of profits to follow. 

More Stellar News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast