Ethereum's potential to rise to $7,000 soon?

An analyst under the nickname VentureFounder noted that a cup-and-handle pattern is forming on Ethereum's two-week chart, which could portend significant growth for the asset in the next four months.

If ETH confirms the $3,800 support level, it could lead to targets of $5,349, $6,457 and $7,238.

In addition, a golden cross is expected to form between the 50-day and 200-day moving averages, which is also a strong bullish signal. 
The analyst emphasized that past such crossovers have led to significant rises, such as from $2,000 to $4,000 at the end of 2023.

However, Ethereum's current growth is limited by headwinds from the strong U.S. dollar index (DXY). VentureFounder predicts that with the fall of DXY, a strong bullish trend for ETH could occur. Another trader, Titan of Crypto, also sees potential for ETH at $5,800 in the near future.