Altcoins News
By James Thorp
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Ethereum is showing strong signs of a major rally, with well-known crypto analyst Kaleo forecasting a potential surge above $4,000.
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Kaleo’s analysis is based on a technical pattern forming on Ethereum’s price chart. The ETH/USDT pair has been moving inside an ascending wedge for over three months.
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The wedge briefly broke down in mid-June, with Ethereum’s price dropping as low as $2,100. However, it quickly recovered, reclaiming the support line—a bullish move known in…
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Kaleo’s chart includes a hand-drawn projection labelled “Send,” showing a sharp rise in Ethereum’s price to just over $4,000.
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What makes this breakout even more significant is Ethereum’s reclaim of the $3,000 psychological level.
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Adding to the bullish sentiment is the broader crypto market environment. Bitcoin is also gaining momentum, approaching its all-time high of around $123,000.
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Another major factor supporting Ethereum’s price is a recent SEC filing. It revealed that Peter Thiel’s Founders Fund has taken a 9.1% stake in Bitmine Immersion Technologies.
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Together, these factors—technical breakout, reclaim of key levels, macroeconomic tailwinds, and institutional backing—strengthen the case for a potential surge to $4,000.
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For traders and investors, the key level to watch now is $3,344. A clean break above this could confirm the move toward $4,000. However, as always, caution is advised.
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In summary, Ethereum’s price action, technical setup, and growing institutional support suggest a major move could be on the horizon.
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