Originally published on: December 06, 2024
Ethereum’s native token, Ether (ETH), has been steadily climbing in value over the past few weeks, increasing by 28% since November 18. Despite a brief drop to $3,615 on December 5, the altcoin quickly rebounded and is now trading above $4,000.
Maintaining a yearly high of $4,098, Ethereum continues to exhibit a trend of forming higher highs and higher lows on the 4-hour chart. The relative strength index (RSI) also appears healthy, currently below the overbought region.
An anonymous crypto analyst known as venture founder has set ambitious targets for Ethereum in 2025, citing an impending “paradigm shift.” According to the analyst, Ethereum is consolidating within a three-year ascending triangle pattern and could potentially reach $16,000, pushing its total market cap above $1 trillion for the first time ever.
To achieve this milestone, Ether must maintain support at $3,800 on its weekly candle, increasing the chances of retesting its all-time high of $4,878.
Another trader, Honey, points to an emerging “golden cross” on the 1-day chart as a bullish indicator for Ethereum’s future performance. Honey anticipates a significant price surge that could propel Ether to new all-time highs.
Institutional interest in spot Ether ETFs is also on the rise, with inflows reaching record highs in recent weeks. BlackRock’s iShares Ethereum Trust has seen over $500 million in inflows this week alone, contributing to more than $1.3 billion in total inflows since November 18.
In addition to institutional interest, Ethereum’s decentralized finance (DeFi) metrics are showing signs of improvement, with total value locked on the Ethereum chain hitting a new yearly high of $77 billion on December 5.
With all these positive indicators aligning, Ethereum appears poised for a breakout in 2025, potentially reaching a price point of $15,000 as predicted by analysts. As always, investors are advised to conduct their own research before making any investment decisions.
