This is an attempt to zoom out over very big time-frames and consider how Eth could enter a new super-cycle and ATH.
The assumption is that Ethereum will follow a similar path Bitcoin did in 2020, where the price similarly broke out of a multi-year descending resistance line formed from that supercycle’s ATH, carving out a logarithmic bull channel to the next supercycle’s ATH.
Several key differences exist. For instance, Eth’s current multi-year descending resistance is longer than Bitcoin’s was at the time. Furthermore, Bitcoin’s initial breakout of that resistance did not coincide with the formation of a new ATH, as we have already done with Ethereum.
In this chart, we assume that the April Bull channel represents this leg up to the next supercycle ATH. We would expect 2021 resistance to get tapped, possibly at the same time as the log bull channel’s bottom support line is tapped.
