The first quarter of the year is about to end while the markets appear to be preparing for a fine upswing. After a minor consolidation, the tokens have triggered a strong recovery, which suggests they could be heading towards forming a new ATH in the coming days. Meanwhile, the second largest crypto, Ethereum, appears to have opted for a slow yet steady race as it still lags heavily behind the BTC price rally.
What’s waiting for the Ethereum price during the monthly close?
The daily chart suggests the ETH price is trading within an ascending triangle and has triggered a rebound before reaching the lower support. The RSI has displayed a bullish divergence, which suggests the price may also follow a strong ascending trend. Therefore, the second-largest token is expected to drag itself towards the upper resistance zone between $4000 and $4114 before the end of the week. However, the monthly trade may also be bullish, with the levels surging beyond $4200.
When will the ETH price soar past $5000?
The long-term chart suggests the ETH price is on a bullish trajectory and has begun with the next bullish phase. After rebounding from the lower ranges, the price is testing the interim resistance, which is situated just above $4000 and clearance may lead to a fresh upswing towards higher targets.
The RSI remains within the bullish range and is trying to trigger a rebound which may validate a bullish reversal within the upper range. This trade set-up indicates the price could find its highs somewhere around $11,500 to $12,000 during the end of Q1 2025 or in the first few weeks of Q2 2025.
Also Read: Bitcoin Price Back Above $70,000: May Reach $82,000 If This Trade Plays Out Well
