Jonathan Carter's Ethereum Price Ladder: Five Stops Before a New All-Time High?

Ethereum has been trending sideways with no definitive move in either direction. But here's the thing – this boring price action has actually formed an ascending channel that could change the course of things for the second-largest cryptocurrency by market cap. If this trend continues to play out, ETH could be heading toward new all-time highs. For the uninitiated, sideways action is basically crypto's version of watching paint dry while your portfolio does absolutely nothing – except apparently it's building something called "structure" or whatever the bulls are calling it these days.

Crypto analyst Jonathan Carter shared an analysis on X that takes a look at the Ethereum price and what the current trend could mean for the altcoin. Carter pointed out the current ascending channel pattern, but also what this could imply for the Ethereum price going forward. Think of it as your friendly neighborhood chart wizard squinting at candlesticks and telling you where the imaginary lines might take us next. Fun stuff.

According to the analyst, the Ethereum price is currently trading closer to the lower border of the ascending channel pattern. This is drawn from the weekly chart, and since the altcoin's price is yet to break below this channel, then it is still very bullish. In plain English: ETH is basically doing a trust fall with its support levels and so far, nobody has dropped it. The weekly chart – that long-range-view that makes short-term traders look like hyperactive hamsters – says we're still in the green zone. Revolutionary.

For now, the Ethereum prognosis remains that the price will begin to surge, provided a couple of things remain. First is the fact that the channel structure is still intact. This suggests that the bulls are likely to push the price upward. Next is the fact that the support zone around the $1,900 level is still holding. As long as this support holds, then the bears are unable to keep pulling the price down. But a failure to secure this level would lead to an Ethereum price crash. So basically, the entire bullish thesis rests on $1,900 not becoming a memory – hold that line or it's back to watching ETH try to explain to Bitcoin why it's not the favorite child anymore.

Last of these is that bullish momentum is still building around Ethereum. During times of sideways movement such as this, it is often when whales are accumulating, and as a result, the bullish momentum surrounding the asset is beginning to rise. While you and I are staring at our portfolios wondering if we should check the price again (we won't, we're stronger than that), the big fish are apparently loading up their boats. Classic whales – buying when everyone else is bored out of their minds. Bold strategy, cotton.

With all the catalysts staying intact, the crypto analyst predicts five recovery targets for the Ethereum price. The first target is $2,350, which is around a 15% jump from the current level. Once this is surpassed, then the bulls move on to the second target at $2,800. The next recovery target then moves up to $3,550, eventually breaking the resistance at $3,000. This gives way to the $4,700 target. Five stops on the way to glory – it's basically the Ethereum express, tickets $2,350 one way, destination: maybe slightly less disappointment than last cycle.

Hitting $4,700 will set the stage for the Ethereum price to actually retest its current all-time high of $4,900, and then play into the final target. This final target is placed at $5,700, which would set a new peak for the Ethereum price. $5,700 – the number that would finally let ETH maxis breathe again and remind everyone they're "early" for the hundredth time. But remember: all of these beautiful targets depend on that ascending channel staying put and the price not deciding to take an unexpected vacation below support. Place your bets, set your alerts, and maybe touch some grass in the meantime.