Will ETH Price Hit $20K in this Altcoin Season?

Ethereum (ETH) has finally started to show signs of life after spending much of the past year in a sluggish bearish phase. Over the last 12 months, the world’s second-largest cryptocurrency grew by a mere 5.6%, frustrating investors who once saw it as a market leader.

However, momentum has shifted in recent weeks. In the last 30 days, ETH has jumped by 44.2% to reach $3,640.83. In just the past 24 hours, the price surged 5.3%, indicating a strong short-term trend reversal and renewed investor confidence.

Ethereum Price Gains Momentum: Key Metrics

Ethereum’s recent performance further supports the bullish outlook. At the start of this month, ETH was priced at just $2,404.14. Since then, the asset has surged by over 50.58%. In the last 14 days alone, ETH has gained 42.3%, and in the past week, it rose by 21.7%. This rapid upward movement is signaling a potential breakout, especially if market conditions remain favorable.

Analyst Predicts Ethereum Price Could Soar to $20,000

Fueling this renewed optimism is a bold forecast by well-known crypto chart analyst Colin Talks Crypto. In a recent post on X, Colin predicted that Ethereum could hit $15,000 to $20,000 in the upcoming crypto bull run. According to him, long-term chart trends support this target, showing a consistent upward trajectory that aligns with previous bull cycles.

As of now, ETH is still trading 25.22% below its all-time high of $4,868.80, which was achieved on November 9, 2021, driven by the NFT frenzy, DeFi boom, and anticipation around the Ethereum 2.0 upgrade. Colin’s projection suggests Ethereum could more than triple or even quadruple its ATH if the market rallies as expected.

Ethereum vs Bitcoin: Which Will Perform Better in the Bull Market?

Colin also compared Ethereum’s potential growth with that of Bitcoin. While Bitcoin’s all-time high was $69,000, the analyst expects BTC to climb 2x to 3x in the next bull market, suggesting a target range between $138,000 and $207,000.

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Bitcoin’s market cap currently sits at over $2.37 trillion, significantly higher than Ethereum’s $436.8 billion. This market cap difference makes Ethereum more volatile, meaning it can rise faster during a bull run, but it may also fall harder when the market turns bearish.

According to Colin, this volatility could allow ETH to outperform BTC in the near term, although investors should remain cautious about post-bull cycle corrections.

What’s Next for Ethereum?

As the market heats up and the crypto community begins positioning for the next major cycle, all eyes are on Ethereum’s price action. If Colin’s predictions play out, ETH could break all previous records and become one of the most profitable assets of the bull run.

For now, traders and long-term holders alike are watching closely. A breakout past its previous ATH could be the first step toward a potential $20,000 Ethereum.

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