This is why the price of ETH could reach $7,200 in the coming months

There are several reasons that could lead the price of Ethereum (ETH) to reach $7,200 in the near future. According to technical analysis, ETH has formed a cup and handle pattern that has lasted for three years, indicating the possibility of a price increase of up to 97% within the next four months, with a specific target of $7,238 by the end of Q1 2025.

Additionally, the influx of capital into U.S. spot Ether ETFs has reached new records, totaling $332.9 million by the end of November. This reflects a growing interest from investors in ETH.

Moreover, some analysts are currently viewing the potential breakout of ETH, especially if it surpasses the $4,000 threshold. Such a breakout move could create strong momentum for the value of ETH, particularly in the context of a simultaneous recovery in the cryptocurrency market.

However, macroeconomic factors and investor sentiment also need to be considered, as these factors could influence the upward trend in the near future.