Originally published on: November 23, 2024
The Ether price is on the verge of a potential correction in the near future before embarking on a significant rally to reach new highs.
Recording a remarkable 33% surge in the past month, Ether is currently trading above $3,368. However, analysts warn of an impending correction once Bitcoin breaches the long-anticipated $100,000 milestone, likely to happen by the end of November.
Experts predict that as Bitcoin experiences a short-term pullback, Ether will follow suit before gaining long-term momentum that could propel its price to exceed $20,000 by 2025.
Renowned crypto analyst Wolf identified an ascending triangle pattern in the Ether chart, suggesting a bullish indicator that could lead to a substantial price rally in the future. This pattern aligns with the technical analysis pointing towards Ether’s potential to reclaim its previous all-time high.
Despite lagging behind Bitcoin’s price action, Ethereum’s dominance as the leading smart contract blockchain is expected to fuel Ether’s surge above its previous peak. With ongoing upgrades enhancing its utility, Ethereum remains the most-used smart contract protocol by volume, setting the stage for increased Ether acquisition.
While investors may currently be shifting funds into Bitcoin amid its relentless rally, experts believe that Ether will make a strong comeback once Bitcoin’s momentum stabilizes. The market anticipates Ether to surpass its all-time high before the year ends, signaling a positive trend for Ether’s price trajectory.
Analyzing historical data, it appears that Ether tends to yield positive quarterly returns against Bitcoin’s price in the initial stages of post-Bitcoin halving years, indicating a promising outlook for Ether’s price performance in the early months of 2025.
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