<p><img src="https://images.cointelegraph.com/images/528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDcvMDE5ODViOWItZGJmMy03ZGZhLWE5ZmMtZTdiMTEwOWJlMTkw.jpg" alt="Here’s why some Ethereum traders expect ETH price to hit $16K this cycle"></p><p>Ethereum price is painting an ascending triangle pattern breakout with a price target of around $16,700.</p>