Originally published on: December 06, 2024
Ethereum’s native token, Ether (ETH), has been on a steady upward trend in recent weeks, experiencing a 28% increase since November 18. Despite a brief dip to $3,615 on December 5, the altcoin has quickly recovered and is now trading above $4,000.
According to a renowned crypto analyst, Ethereum is approaching a significant milestone with a potential “impulse breakout” that could catapult its price to $15,000 by 2025. The analyst pointed out that Ethereum is currently consolidating within a three-year ascending triangle pattern, signaling a new era for the cryptocurrency.
In order to reach this ambitious target, Ether needs to maintain its support level at $3,800 and retest its all-time high at $4,878. With positive indicators like the relative strength index (RSI) showing a healthy trend, the path to $15,000 seems more achievable than ever.
In addition to technical analysis, institutional interest in Ethereum is on the rise. Spot Ether ETFs have seen a surge in inflows, with over $1.3 billion flowing into the market since mid-November. Big players like BlackRock’s iShares Ethereum Trust are leading the charge, indicating growing confidence in Ethereum’s future potential.
Moreover, Ethereum’s DeFi ecosystem is thriving, with total value locked (TVL) reaching a new yearly high of $77 billion on December 5. This robust fundamental foundation combined with positive price action paints a bullish picture for Ethereum’s future growth.
As Ethereum gears up for a potential “giga pump” and institutional adoption continues to rise, the $15,000 price target by 2025 doesn’t seem far-fetched. Stay tuned for more updates on Ethereum’s exciting journey to new all-time highs.
