Ethereum (ETH) price has seen a decline in the recent market correction, but Raoul Pal remains optimistic about Ether’s price trajectory leading into 2025. Pal, the macro investor and Real Vision CEO, believes Ethereum could be on track for a significant price breakout in the near term. He noted that Ethereum’s weekly chart shows a bullish wedge pattern, indicating further upside potential for the smart contract platform.
In a December 26 YouTube strategy session, Raoul Pal mentioned that Ether is primed to explode higher once the bullish breakout is confirmed. He also pointed out a bullish wedge pattern on the ETH/BTC pair’s weekly chart, suggesting that Ether could outperform Bitcoin in the near future. Pal believes that as the ISM Manufacturing Index, an indicator of the U.S. economy’s health, rises, ETH will start outperforming Bitcoin.
Despite a challenging year for Ether bulls, with the ETH/BTC pair shedding as much as 35% of its value, there is still hope for a turnaround in the coming year. US-listed spot Ether exchange-traded funds (ETFs) have seen impressive inflows after underperforming earlier in the year. At the time of writing, Ethereum was trading at $3,402.45, up 1.1% on the day but still 30% off its all-time high of $4,878.26 set in November 2021.
In conclusion, Raoul Pal’s bullish outlook on Ethereum’s price trajectory provides hope for Ether investors despite the recent market correction. With a bullish wedge pattern on the weekly chart and the potential for Ether to outperform Bitcoin, the future looks promising for the second-largest cryptocurrency by market cap. As the market structure indicates bullish momentum and strength, Ether could be gearing up for a significant price breakout in the near term.
Overall, despite the challenges faced by Ether bulls this year, there are signs of a potential turnaround in the coming year. With impressive inflows into US-listed spot Ether ETFs and a positive outlook from Raoul Pal, Ethereum’s price trajectory leading into 2025 remains optimistic. Investors and traders will be closely watching for further developments in the market to see if Ether can successfully turn the tide and reach new highs.
