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Ethereum Price Prediction Signals July Breakout as Altcoin Season Nears
The recent price action of Ethereum has sparked a wave of excitement among cryptocurrency enthusiasts and analysts alike. In the latest development, Ethereum price prediction signals are indicating that a July breakout could be imminent, potentially signaling the start of altcoin season.
The past few months have seen Ethereum’s value experience an uptrend, with experts suggesting that this movement may continue in the coming weeks. Michaël van de Poppe, a renowned technical analyst, has stated that the ETH/USD chart is forming an ascending triangle pattern on daily charts, which often precedes major breakouts. This prediction aligns with previous statements from Bitwise’s CIO Matt Hougan and head of research Ryan Rasmussen.
In their mid-year scorecard, the pair highlighted a potential retest of the $3,000 region for Ethereum. They believe that rising interest in stablecoins, more ETF approvals, and the emergence of ETH treasury companies could drive the price higher.
Leon Waidmann, Head of Research at OnChainHQ, has further emphasized this sentiment by stating that futures short pressure is nearing an all-time high despite BlackRock’s ETH ETF being bought on most days of June. This development is indicative of a significant buildup in bullish sentiment and may result in a short squeeze, which would support the price growth.
Furthermore, expectations suggest that altcoins will enter a parabolic rise phase with Ethereum leading the way. This prediction is supported by a decade-old support line for altcoins, which has just been retested. A cluster of ETH-related news may be on the horizon for the second half of 2025, potentially setting off a chain reaction.
As Ethereum’s price movement continues to gain momentum, it remains crucial for investors to monitor its performance closely in order to stay ahead of any major market fluctuations.
Source: coinpedia.org
