Ethereum Price Prediction: ETH bulls are aiming for a new all-time high of $6,000 this year.

The price of Ethereum is on the verge of setting a new all-time high, thanks to the emergence of two big bullish chart patterns.
The dominating technical patterns suggest that objectives of $6,015 and $6,365 are achievable.
A daily closing over $3,960 would strengthen the bulls’ case for a $6000 target.

As the bulls recover their breath before the cryptocurrency begins its surge, ethereum price is lingering around a crucial support level that has previously worked as barrier for ETH. A 60 percent increase is still possible as long as the second-largest cryptocurrency by market value remains over $3,960.

The price of Ethereum is expected to rise by 60%.

On the daily chart, the price of Ethereum has printed two key bullish technical patterns: an ascending parallel channel and a cup-and-handle pattern. The former chart pattern shows that since mid-June, ETH has been continuously attaining higher highs and lower lows, indicating a positive outlook for the coin.

Based on the first ruling chart pattern, ETH is expected to hit the channel’s upper border around $6,015, which corresponds to the 161.8 percent Fibonacci extension level…