The analyst known as VentureFounder has identified a “cup and handle” pattern on Ethereum’s bi-weekly chart, signaling the potential for the asset to surge over the next four months.

$ETH has a 3-year cup and handle in the making, it is about to be completed now if #Ethereum confirms $3.8k as support.

First target: $5,349
Second target: $6,457
Third target: $7,238

Timeframe: by end of Q1 2025 the latest. pic.twitter.com/AAfBP8dQYu
— venturefounder (@venturefounder) November 30, 2024

“The ETH chart has been forming a cup and handle for three years, which will soon complete if [the asset] confirms support at $3,800.”

According to VentureFounder, Ethereum’s first target is around $5,349, with the second at $6,457, and the third at $7,238. He expects Ethereum to reach this final target “no later than Q1 2025.”

The analyst also highlighted the imminent arrival of a “golden cross” for Ethereum (the crossing of the 50 DMA and 200 DMA), which is set to form next week.

$ETH 50DMA-200DMA #goldencross is coming NEXT WEEK:

The first #Ethereum golden cross this cycle happened in Nov 2023 and ETH went from $2k to $4k in 3 months.

This is also the 2nd golden cross this cycle, the 2nd golden cross in the last cycle triggered a ETH rally from $185 to… pic.twitter.com/7CWgSJihgU
— venturefounder (@venturefounder) November 30, 2024

In November 2023, a “golden cross” previously propelled the second-largest cryptocurrency by market capitalization from $2,000 to $4,000 within three months.

VentureFounder noted that Ethereum’s price has “yet to take off” due to the sustained strength of the U.S. Dollar Index (DXY), which previously dipped to lower levels.

Why hasn't $ETH exploded yet?

Answer: $DXY

In past cycles, DXY drops to ~90 and triggers the largest bullmarket in #Ethereum in the same period, DXY has been trending between 100-106 this cycle, but it is about to have a bigger break down than past cycles, ETH will explode. pic.twitter.com/djjKKpNI6y
— venturefounder (@venturefounder) November 30, 2024

“DXY is currently fluctuating between 100-106 in this cycle, but it’s due for a more significant drop than before. When that happens, ETH will explode.”

Another crypto trader, Titan of Crypto, predicted Ethereum could hit $5,800 soon, as the Ichimoku Golden Cross “has finally formed on the weekly timeframe.”

Previously, the analyst known as Wolf identified a “triangle” pattern forming on Ethereum’s chart since November 2021. According to him, a potential breakout from this consolidation zone could push prices as high as $20,000.

Reminder: Analysts at Block Scholes and Bybit Analytics recently forecasted Ethereum’s rise above $4,000 ahead of Donald Trump’s inauguration.