Ethereum, currently trading around $3,300 after a 6% daily loss, is predicted to experience a significant rally. Analyst TraderJB forecasts a 345% increase, potentially pushing Ethereum to a new high of $14,766. This prediction is based on the completion of a corrective pattern in line with the Elliott Wave theory, suggesting the end of a consolidation phase and the beginning of a new upward trend. The Stochastic RSI on the ETH weekly chart indicates oversold conditions, historically a precursor to price reversals. Additionally, Ethereum's network upgrades and scalability improvements bolster this optimistic outlook.