Ethereum price has risen for three consecutive weeks, helped by the ongoing recovery of cryptocurrencies. ETH, the second-biggest cryptocurrency, rose to $3,670 on Tuesday, as technicals and fundamentals pointed to more gains in the current quarter. So, how high can ETH get this year?
Polymarket users are bullish on Ethereum price
There are rising odds that the ETH price will continue doing well this year. A Polymarket poll with over $2 million shows that the odds of ETH reaching $4,500 on March 31 are at 55%. If that happens, it means that the ETH price will rise by over 23% from the current level.
Another Polymarket poll shows that the odds of the coin soaring to an all-time high by June have risen to 56%. The odds that the ETH price will get to $5,000 this year have risen to 65%.
Therefore, traders are optimistic that the coin will do well in the long term. This is notable since Polymarket has proven to be a highly accurate prediction market such as its prediction about the US presidential election when it predicted that Trump would win.
ETH price technicals point to a rebound
Meanwhile, Ethereum price has strong technicals, pointing to more gains in the long term. The weekly chart shows that the ETH has formed a symmetrical triangle chart pattern. The upper side of this triangle connects the highest swings since November 2021.
This triangle has more room to form, meaning another drop to the lower side cannot be ruled out. Besides, the coin has formed a triple-top chart pattern at $4,085. A triple-top is a popular bearish reversal pattern.
