Ethereum Price Climbs As This AI ICO Platform Surges Past $162K

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The Ethereum price climbed over 1% in the last 24 hours to trade at $1,637 as of 4:05 a.m. EST on trading volume that surged 30% to $15.1 billion.

This comes as influential analyst Ali Martinez, with more than 135k followers on X, predicts that the ETH price is currently consolidating within a symmetrical triangle and could soar 17%.

#Ethereum $ETH is currently consolidating within a symmetrical triangle on the hourly chart, hinting at a potential 17% price move! pic.twitter.com/BbefZlE3Ti

— Ali (@ali_charts) April 14, 2025

Ethereum Price Gearing Up Towards A Breakout

Since mid-January 2025, the ETH price has been trading within a clearly defined falling channel marked by consistent lower highs and lower lows.

This descending pattern is typically bearish in nature but often signals a potential reversal if broken to the upside. As of the latest daily close, the Ethereum price is trading at approximately $1,637.74, showing a +1.63% increase for the day, according to GeckoTerminal data.

ETH Price action is attempting to break out of the upper resistance boundary of this falling channel, which, if successful, could trigger a significant shift in market sentiment.

This recent move could be the beginning of a bullish reversal, especially considering the pattern’s long duration and the price now testing the upper trendline.

The 50-day Simple Moving Average (SMA) is currently at $1,954.84, acting as the nearest dynamic resistance. The price of Ethereum is still trading below this level, indicating that short-term momentum remains cautious.

Meanwhile, the 200-day SMA stands significantly higher at $2,794.18, well above the current price, and continues to reinforce the longer-term bearish trend. Reclaiming the 50-day SMA would be the first sign of trend reversal confirmation.

The Relative Strength Index (RSI) reads 42.17, which places it in the neutral-to-slightly-bearish zone. While not in oversold territory, it is close enough to suggest that a further push upwards could shift momentum.

Moreover, the Moving Average Convergence Divergence (MACD) line is currently positioned just above the signal line, with the histogram turning slightly positive, which is a bullish signal.

Ethereum Price Chart Analysis Source: GeckoTerminal — ETH/USDT Chart Analysis Source: GeckoTerminal

ETH Price Prediction – Breakout Potential Signals A 17% Surge

Should Ethereum decisively break above the upper trendline of the falling channel, the first key resistance level to watch would be around the 50-day SMA at $1,954, representing a potential 17.5% upside from the current price.

If bullish momentum continues, the next major target becomes the 200-day SMA at $2,794, implying a 70.55% rally from current levels.

However, failure to break and hold above the channel’s upper boundary could lead to rejection and continuation of the downward trend. In that case, the channel’s lower boundary would be the immediate support zone to monitor, possibly near $1,500 or lower.

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