Ether is aiming for $20,000 with a price channel setting the stage for a potential breakthrough, according to a trader. The current price surge has ETH crossing $4,000 for the first time since late 2024, with a new sky-high target in sight. Against Bitcoin, Ether needs 150% gains to match previous highs.

Popular trader Merlijn predicts Ether could hit $20,000, with the potential to exceed that level for the first time. Momentum is building for Ether’s price to surge beyond the channel boundary. In BTC terms, Ether still has ground to cover to reach previous peak levels, requiring a 150% increase.

Analysts see new all-time highs on the horizon for Ether, with potential for price discovery within weeks. Institutional buying and a short squeeze have driven Ether above $4,100. Traders are watching for a strong weekly close above this level as a signal for a new ATH within 1-2 weeks.

Read more at Cointelegraph: Ether May See New Record Highs in Under Two Weeks