TechFlow, on August 9, according to Cointelegraph, trading analyst Merlijn pointed out that Ethereum is currently operating within a seven-year ascending channel, which previously propelled ETH from $100 to $4,000. If this trend continues, ETH prices could reach $20,000.
Currently, the ETH-to-BTC ratio still needs to rise by 150% to reach the historical high of 0.0883 set in 2021. Some traders expect that if ETH can firmly hold above $4,100 this week, it may hit a new high within one to two weeks.
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