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For the first time in three years, Ethereum (ETH) has reached the milestone of $4,100. This level has proven to be a key area of ​​resistance for investors, especially as the leading altcoin has struggled to break it during the bullish momentum experienced in the first half of this year.
Ready For A Rally If It Breaks The $4,000-$4,100 Resistance?
The renewed bullish mood among crypto investors has led analysts to predict a potential high for Ethereum, surpassing the previous one. record for $4,878, set for November 2021.
For example, crypto analyst Justin Bennett noted on social media platform X (formerly Twitter) that ETH had experienced technical hurdles by crossing the $4,000 threshold and admitted that Bitcoin was the focus of the market’s attention in December.
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However, the analyst he insisted that if the price of ETH can successfully navigate the key range of $4,000 to $4,100 in the short term, it could pave the way back to its all-time high, with the potential to reach mid-$5,000 levels, thus ending the current bullish trend. altcoin channel.
Bennet also suggested that now is a good time for the ETH price to target new highs as he believes the altcoin could see “some of those Bitcoin (BTC) gains flow into the Ethereum market soon.
Ethereum Price Will Reach $15,937 By May 2025?
Adding to this positive outlook, market expert VentureFounder shared even more optimistic forecastsexpects extended bullish momentum for ETH in the next seven months, and predicts that it will reach an all-time high of $15,937 in May 2025.
VentureFounder correlated this prediction with historical patterns, noting that the first quarter following Bitcoin Halving events usually begins an increase to new record highs. He also pointed out that Ethereum often enjoys a year of strong performance after such Halving events, the latest of which occurred in April of this year.
This year has already seen remarkable parallels with the past for both Bitcoin and Ethereum. Before Bitcoin’s Halving, the crypto currency there was a big rally, fueled in part by the approval of Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC).
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Meanwhile, the price of Bitcoin reached a new high of more than $70,000 in March, and has since risen more than 50% to a new record of $107,000, despite a challenging second and third quarter. value action.
Ethereum also experienced significant growth, posting its first strong quarter in more than three years, rising from $2,260 in February to almost 100% in just 30 days. However, it stayed below $4,100 until recently, keeping pace with Bitcoin’s growth.
Overall, VentureFounder’s analysis, as well as the price movements of both Ethereum and Bitcoin this year, provide a strong basis for believing that ETH may be poised for a significant rise in the coming months if expert predictions and previous patterns are true.
At the time of writing, ETH is trying to rally around $4,014. This level will be very important in determining whether further momentum will occur in the coming days or if further testing is required price support are on the horizon.
Featured image from DALL-E, chart from TradingView.com
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