Ethereum has made headlines once again as its price has surged past $4,000*, reigniting hopes for new all-time highs in the market. This significant breakout has propelled *Ethereum into a promising position, backed by key on-chain data and a notable uptick in whale activity. Could we soon witness Ethereum hitting that monumental new high?
As per the latest insights, the Ethereum price has not only reclaimed this critical resistance but has also reported an impressive weekly gain of over *9%. This rise is supported by a growing interest from ETH whales. Currently, a staggering 104 wallets hold at least 100,000 ETH, accounting for roughly *57.35%* of the total supply—valued at an astonishing *$333.1* billion*. This concentration of wealth suggests a bullish sentiment among major stakeholders, potentially paving the way for further price advancements.
One intriguing signal comes from the cup and handle pattern forming on Ethereum’s charts, which historically indicates bullish momentum. Analysts project possible price targets of $5,349*, *$6,457*, and even *$7,238* by the end of *Q1* 2025. This upward trajectory is echoed by Venturefounder, a respected crypto analyst, who emphasizes that the recent closure above the $3,800* support reinforces this positive trend.
But wait—there’s more. While skepticism lingers in the air, some analysts firmly believe that Ethereum could “blast off and never look back.” Venturefounder envisions a far more ambitious long-term target of $15,937* by May *2025, which could catch many investors off guard.
Recent data from Glassnode shows that Ethereum has outperformed not just Bitcoin but also other altcoins like Solana over the last *30 days. While Bitcoin’s growth sits at *17.49%*, Ethereum’s impressive climb has reached *26.99%*. This might signal a capital rotation from *SOL to ETH, with distribution trends indicating that the top altcoins are shifting towards the latter.
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In terms of comparative strength, the ETH/BTC pair has been showing impressive resilience. Analyst Venturefounder suggests that what we’re seeing now is a reversal pattern reminiscent of the *2016–2017* cycle, and the stage is set for a potential liftoff. Matthew Sigel from VanEck echoes this sentiment, hinting that the ETH/BTC pairing could be positioned for a parabolic rise, reminiscent of movements seen in *2020*.
As the ETH price hovers around $4,005*, the excitement in the market is palpable. The *market cap has now skyrocketed to around $482* billion, with a staggering *$80* million* in 24-hour liquidations, out of which $54* million* stem from short liquidations. The signs are clear: Ethereum’s momentum is building, and many are watching closely as it strives for new heights.
As the digital asset market heats up, Ethereum stands out with robust signals of growth. If you’re considering options within the crypto space, it might be wise to pay close attention to the ongoing developments with ETH as we approach what could be a historic climb. Each day brings new opportunities, and Ethereum’s trajectory appears promising—a thrilling ride for both seasoned and novice investors alike!
