In a recent commentary, Mike Novogratz expressed that Ethereum might not be preparing for a crash, but is poised for a breakout above $4000 by the end of 2025.
Ethereum Price Forecast
Mike Novogratz, founder of Galaxy Digital, believes Ethereum can continue to rise despite current market conditions and traders' opinions. He hopes ETH's price may exceed $4000 by the end of 2025.
Analysis of the 'Quadruple Top'
Some traders are discussing the appearance of a so-called 'quadruple top' — a formation typically considered bearish. However, Novogratz points out that with the fourth touch, the resistance level may fail, potentially leading to significant upward movement.
Current Market Range and Changes
Currently, Ethereum's price fluctuates between $3200 and $4000, not too far from its all-time high. Novogratz notes that ETH has been absorbing sell volume in this range for months, and each time it returns to the upper limit, it shows higher lows.
Thus, despite the existing discussions and concerns about the 'quadruple top' formation, Mike Novogratz's perspective points towards a potential breakout for Ethereum aiming for a price of $4000.