For the first time in more than three years, Ethereum (ETH) has reached the remarkable price of $4,100**, marking a significant achievement for both investors and the cryptocurrency sector. This milestone represents a crucial resistance level, one that the leading altcoin has struggled to surpass during the bullish market phases, particularly within the first quarter of this year.
Aiming for New Heights
With a surge in positive sentiment among crypto enthusiasts, analysts are predicting the potential for new all-time highs for Ethereum, aiming to exceed its prior peak of $4,878*, established in November *2021. Crypto analyst Justin Bennett shared insights on social media platform X (formerly Twitter), emphasizing that ETH has previously faced obstacles while trying to break through the $4,000* barrier. He pointed out that *Bitcoin has been heavily spotlighted during December, yet if Ethereum can successfully maintain its position in the $4,000* to $4,100* range, it could open the doors for a bullish rally back toward its historical peaks. The exciting forecast is that ETH could even reach the mid-$5,000** levels, completing the current upward trajectory for the altcoin.
Bennett also asserted that now might be the perfect time for Ethereum to target a new all-time high, as he anticipates some of the profits from Bitcoin could soon flow into the Ethereum market.
Eyeing the Future: Can Ethereum Reach $15,937?
Building on this optimism, market expert VentureFounder is projecting even bolder predictions for ETH. They foresee the currency maintaining an extended bullish momentum over the next seven months, with a potential peak of $15,937* by May *2025. VentureFounder ties this expectation to historical trends, noting that the period following Bitcoin’s Halving events often sparks a surge in prices. He added that Ethereum typically performs exceptionally well in the year following such events, with the most recent one occurring in April.
This year has already shown remarkable similarities between Bitcoin and Ethereum. Leading up to Bitcoin’s Halving, the cryptocurrency enjoyed an impressive rally influenced by the approval of spot Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC). Following all this excitement, the price of Bitcoin soared, reaching a new high just above $70,000** in March, with even greater growth seen later on.
Ethereum has mirrored this growth pattern, boasting its strongest first quarter in over three years, jumping from $2,260* in February to nearly *100% within just 30 days. Yet, it hadn’t breached the $4,100** mark until now, following Bitcoin’s upward course.
With VentureFounder’s assessment combined with the year’s price dynamics for Ethereum and Bitcoin, there is a solid basis for believing that ETH is on the verge of substantial gains in the upcoming months, assuming expert analyses and historical patterns continue to play out. More content in ZCrypto.
As of this moment, Ethereum is trying to establish stability around the $4,014** mark. This figure will play a pivotal role in determining whether there will be further upward movement soon or if additional challenges for price support are forthcoming.
The journey outlook for Ethereum is promising, and its recent achievement could signal even more exhilarating developments ahead.
