Ethereum soars 33% in a month, Signaling $20K Breakthrough?

- Ethereum Price Rises 33% in a Month, Surpasses $3368 - Analysts Predict Ethereum Could Hit $20K by 2025 but Warn of Overbought Signals and Short-Term Corrections [Unblock Media] Recently, Ethereum's price has surged sharply, jumping more than 33% in the past month and surpassing $3368. However, experts are predicting a short-term price adjustment. Bitcoin price fluctuations are expected to influence Ethereum. According to Gracy Chen, CEO of Bitget, "There are already overbought signals in the market, and a healthy correction could occur. If Bitcoin surpasses $100,000, Ethereum is likely to be affected.” The overbought signals have emerged due to the recent sharp rise in both Bitcoin and Ethereum, and technical indicators such as the RSI (Relative Strength Index) support this. These indicators suggest that the asset might be overvalued, leading to increased selling pressure. In the long term, Ethereum's price is expected to surpass $20,000 by 2025. Popular cryptocurrency analyst Wolf commented, "A three-year triangular compression pattern is evident on the charts, which signals a significant price increase." A triangular compression pattern signifies price movements within a narrowing range, indicating increasing investor confidence in both higher and lower prices, eventually leading to significant price movements. Ethereum's strong utility as a smart contract platform and various upgrades are expected to contribute to its price rise. Chen added, “Ethereum is still the most widely used smart contract protocol by volume. This strengthens Ethereum's utility and lays the foundation for future price increases.” Additionally, Benjamin Cowen, CEO of ITC Crypto, analyzed that Ethereum tends to show positive quarterly returns relative to Bitcoin during the first half-year after the Bitcoin halving. This suggests a potential price rise for Ethereum in early 2025. For instance, in the six months following the Bitcoin halvings in 2017 and 2021, Ethereum outperformed Bitcoin by an average of 15%. This data indicates a continuing trend of positive quarterly returns after Bitcoin halving, enhancing the credibility of Cowen's analysis. Considering all these factors, while Ethereum might experience a short-term price adjustment, significant price increases are anticipated by 2025 due to important technical patterns, enhanced utility, and its correlation with Bitcoin.