#DEXVolumeRecord Ethereum Price Explosion Imminent, This Historic Price Pattern Predicts
Ethereum continues to languish in the $3,300s, but powerful fundamental tailwinds plus historic price patterns suggest new ATHs could be just around the corner.
It’s been a quiet start to the year in crypto markets, with the Ethereum (ETH) price moving sideways in the $3,300s now for around one week.
But volatility is coming, and is likely to hit very soon. Chart analysis suggests ETH could experience declines in the short-term.
The Ethereum price is currently below both its 21 and 50DMAs and below the key short-term resistance area around $3,500.
A retest of key support in the form of the 200DMA around $3,000 could be on the cards. But traders would do well not to expect the downside to last long.
US President Donald Trump’s November election victory tees up the prospect of a new golden age for the US crypto industry and broader markets over the next four years, which is set to spur adoption at an unprecedented rate.
Moreover, historic price patterns suggest that an Ethereum price surge could be right around the corner.
Ethereum Price Explosion Imminent?
Incoming pro-crypto US President Donald Trump is set to land in the White House with an administration packed with crypto industry supporters and advocates.
Meanwhile, anti-crypto sitting SEC Chair Gary Gensler is set to depart in favor of Trump’s pick Paul Atkins, which should kickstart a new era of SEC/crypto industry cooperation, rather than the current adversarial environment.
Meanwhile, the incoming pro-crypto Congress is expected to approve pro-crypto industry regulations to give the industry clarity.
They may even vote in favor of legislation to build a strategic Bitcoin reserve, which Trump could also kickstart via an executive order.
All of this is great for Bitcoin. But its even better for altcoins like Ethereum. While anti-crypto forces in the US in the last few years weren’t able to block the establishment of Bitcoins ETFs (or Ethereum ETFs).
